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- W4246908417 abstract "The chapter discusses in detail, the concepts and models of microeconomics and macroeconomics, respectively. Microeconomics models are concerned with the behavior of firms and individuals in making decisions on the allocation of limited resources. These models of particular interest include the theory of the firm and theory of the market. Macroeconomics is concerned with the operation of the economy of a country or a region. GDP growth, tax rates, interest rates, and inflation can strongly affect the economic worth of alternative investments. Behavioral economics addresses how real people make decisions to pursue a particular path, allocate resources, and so on. Research in behavioral economics has found the types of constraints that need to be added to models of human decision making. The final section of the chapter addresses the economics of healthcare delivery. This example is laced with the microeconomic and macroeconomic phenomena discussed throughout this chapter." @default.
- W4246908417 created "2022-05-12" @default.
- W4246908417 date "2015-07-03" @default.
- W4246908417 modified "2023-10-10" @default.
- W4246908417 title "Economic Phenomena" @default.
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- W4246908417 doi "https://doi.org/10.1002/9781118982747.ch6" @default.
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