Artticle Analysis Paper

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Article Analysis Paper


Article Analysis Paper

Sidney Jones

University of Phoenix

ECO Principles of Microeconomics

Instructor: Dr. Christina Sesler

November 30, 2009

In the world of Microeconomics, key terms like economics, law of supply , as well law of demand will be used to analysis a thorough understanding of what the terms are , along with discussing the principles of microeconomics with accuracies and efficiently. This paper will describe articles by the writers who wrote, "Supply and Demand" and "Economics" to help readers comprehend the difference between economics, and microeconomics, along with the meaning of supply and demand.

According to a writer, Colander, defines economics as "the study of the production, distribution, and consumption of goods and services." (Colander, 2008) Economics studies behavior in connection between the ends and means which may have other usages. These coordination examinations are straightforward on paper, however, are more complicated since they are being inquired of along with respond to every individual as well each entity in the world.

The problem results in the justification that due to peoples' wants and desires are never-ending, although they are limited in what is available to them. This understanding results in the difficulties that all economics encounter with the problem of scarcity. According to Colander, "the goods available are too few to satisfy individuals' desires." (Colander, 2008) It is currently possible to regulate the needs as well wants of every persons in the world through the assistance of technology and technological advances for instance, the Internet, however, due to political strains, economics is divided in its studies.

According to an article, "The field of economics is divided into basic areas of study: macroeconomics and microeconomics." (Microeconomics, 2008) Macroeconomics is the study of whole economics from the...