I have learnt
lots of economic terms and their real life examples where those applied,
actually every step of our environment or surrounding there is at least one
economic term related, for example eating food is an example of law of diminishing
marginal utility, going to shopping mall specially on sale or some offers over
there is an example of economic incentives, when price of any vegetables
decreases we increases our willing to purchase this is an example of law of
demand, there are some places which gives the special discount to the college
students this is an example of price discrimination. There are some other terms
which I have learnt like consumer equilibrium, economic of scope, supply,
opportunity cost, type of markets monopoly, oligopoly, monopolistic, perfect
competition etc.
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