Microeconomics
Why do people make the choices they make?
Elements
| Concept | Question |
|---|---|
| Supply & Demand | How do prices emerge? |
| Utility Theory | What do people actually value? |
| Production Theory | How do firms optimize output? |
| Labour Economics | What determines wages? |
| Incentives | What makes people act? |
Show me the incentive, I'll show you the outcome.
Context
- Economics — The money system
- Macroeconomics — Systems and cycles
- Marketplaces — Exchange of value
- Game Theory — Strategic choices
- Incentive Engineering — Designing behavior