Question

I need help in this, please write your own definition and make your own examples. Please do not copy anything, It should be plagiarism free

Topic List (10 points) 1. Microeconomics 2. Intermediate good 3. Disposable personal income (provide a quantitative example!" 4. Inflation rate (provide a quantitative example." Four Topics (20 points each) 1. Microeconomics Definition/discussion: Example (if required): 2. Intermediate good Definition discussion: Example (if required): 3. Disposable personal income (provide a quantitative example) Definition/discussion: Example (if required): 4. Inflation rate (provide a quantitative example) Definition/discussion: Activate Wind Go to Settings to a Example (if required):

Answer 1

1. Microeconomics is a branch of economics which deals with decision making in individual firms or consumer while making a decision of allocating scarce resources to maximum use.

Example: Study of consumer utility maximisation and producer profit maximisation

2. Intermediate good: These are the unfinished goods which are used in further production of other goods and are not final goods.

Example: flour is used as an intermediate good in the production of bread and biscuits.

3. Personal disposable income- Personal disposable income is the personal income removing the personal taxes out of it.

Example: $100 is income and taxes are $10.

disposable income = 100 - 10 = $90

4. Inflation rate: Inflation rate is the rate of change of prices.

Example: Price index 2000 = 100

Price index 2001 = 105

Inflation rate = 105/100 -1 = 5%