Everyone on the planet is a part of some type of economic system whether they’re aware of it or not. Economics is as much a part of us as the language we speak or the clothes we wear. This does not, however, mean we are always aware of the way it affects us. In creating a term paper based on Microeconomics it’s a good idea to relate the topic to something that is current. Her are a few you can consider.
The laws of demand and supply suggest that the more something costs, the fewer people will purchase it. The exception to this is called a Veblen good. This is something purchased not just for its intrinsic value but for the pride of owning something very expensive. This has relevance to the way most smartphones are marketed and sold.
Where markets decide the price of a good, fluctuations in price follow a particular pattern. This is not seen in the market for oil and gas due to the presence of cartels which artificially manipulate said prices. How this is achieved and the effects of it could be easily discussed.
This topic is more cut and dry. You can explain how less value can be derived from the same processes over time with reference to any specific industry of your choice. It is widely applicable.
As more people have begun to source their information online whenever they want, the era of newspapers as important news sources has waned. Part of this is because the same information can be had for little or no money from a multitude of sources at the same time creating perfect competitors. Details on how systems of perfect competition function can be referred to throughout.
It is popular for people to claim they want clan sources of energy but their actual demand points in other directions. This paper could go into how much people still seem enamored of oil, gas and coil based on their current spending patterns.
If you still require a topic, it never hurts to check through the contents page of your microeconomics text book and see which topic you’re most fond of. A great term paper may just come out of that.
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