Tuesday, March 04, 2014

Microeconomics Definition Emphasizing Entrepreneurship.

One definition of microeconomics that then emerges is as follows: it is a study of how individuals discover and react to information in the market as part of their division of labor to produce and to earn income, so as to meet their personal desires for goods and services.
Each experience in the series of knowledge gaining experiences is more competitive than the preceding period. In other words, we are constantly searching for ways to make things better for ourselves. And since competition and entrepreneurship are analytically inseparable these experiences act to stimulate our entrepreneurship. That is very good news indeed since releasing our potential, by changing our entrepreneurship from latent to active, leads to prosperity.

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