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What is the best way to study (basically learn) and understand microeconomics?

Economics

What is the best way to study (basically learn) and understand microeconomics?

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The best way to study and understand microeconomics is

  1. Use diagrams. The use of graphs makes the study and understanding of microeconomics easier. For instance, when the supply of a product is increasing, a graph showing the rightward shift in the supply curve helps to see the impact on equilibrium price and quantity.
  2. Being realistic. An individual must differentiate and understand the microeconomic variables. Such include the effects of taxation and government regulation on the individual markets.
  3. Notes review. Through reviewing the previous notes, it helps one to keep a track from the first lesson learn to the point that one has reached.
  4. Asking oneself open-ended questions regarding microeconomics. It is vital not only to get the overview of microeconomics but also to understand the impact on the economy deeply. An example is determining the effects of quantity and prices in the real market economy.