Overview
Digital transformation is reshaping the microeconomic landscape by altering how businesses operate and interact with consumers. It influences supply and demand dynamics, market structures, and consumer behavior, leading to new opportunities and challenges. Understanding these impacts is crucial for ...
Key Terms
Example: Microeconomics examines how consumers make purchasing decisions.
Example: A company adopting cloud computing to improve operations.
Example: As prices rise, suppliers are willing to offer more of a product.
Example: Lower prices typically increase the quantity demanded by consumers.
Example: At equilibrium, there is no surplus or shortage in the market.
Example: Amazon is a leading e-commerce platform.
Related Topics
Key Concepts
Supply and DemandMarket StructuresConsumer BehaviorBusiness Innovation