Decision vs. Strategic Interaction 🤔⚖️ This section looks at how people make choices, either on their own or when their choices depend on what others do. The main difference is whether their decisions are connected to others’ actions. Individual Decision-Making 🧍‍♂️💡 In this case, a person makes decisions without thinking about how others will act.

In this post, notes of “Unit 3: Role of Government – Taxation, Public Goods, Inequalities and Poverty” from “DSC 1: Introductory Microeconomics” are given which is helpful for the students doing graduation this year. 1. Introduction to the Economic Role of Government 💼🏛️ 1.1 Why Governments Get Involved in Markets 🤝 1.2 Market Failures and Government

In this post, notes of “Unit 2: How Markets Work” from “DSC 1: Introductory Microeconomics” are given which is helpful for the students doing graduation this year. Supply and Demand 📈📉 Understanding the Market 🛒 Law of Demand 🔻💰➡️📈 Law of Supply 🔺💰➡️📦 Market Equilibrium: Price Setting ⚖️💵 Uses of Supply and Demand 🧰 Elasticities in

In this post, notes of “Unit 1: Introduction to Economic Trade-offs” from “DSC 1: Introductory Microeconomics” are given which is helpful for the students doing graduation this year. 1. Resources and Opportunities 🌍💼 What are Resources? 🤔 In economics, resources are things used to make goods and services. They are usually grouped into four main types: