Ecn60104 Microeconomics|Perfect Competition Assessment Answer
Task
1. Reflect ANY FOUR (4) microeconomics concepts (main/sub concepts are accepted) of your own choice based on ONE of these topics:
i) The Economic Problem, Nature and Method
ii) Demand, Supply, and the Market Environment
iii) Elasticity of Demand and Supply
iv) Government Intervention in the Market
v) Technology, Production and Costs
vi) Perfect Competition
2. Discuss on how these four concepts affect the behavior/activities of individuals, families, firms, and governments (you can choose only one group or a combination of two/more groups).
3. Your discussion of each concept MUST be supported with appropriate real-world examples (you may use as many examples as possible; however, your reflective writing must be of a good standard/quality). Citations and references may be included as and when necessary.
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