Question

5. Which concept or activity was the most difficult or challenging for you in macroeconomics? Describe why it was challenging and how that challenge will view of the economy.  

Answer 1

Hypothetical concepts involving equilibrium in demand and supply was challenging for me to understand in microeconomics. Since these involved making estimations and arriving at a common point at which a market is at equilibrium. However in reality I feel that the market is not so static that it is at an equilibrium. In most countries that are developing or developed, there are variations in supply and demand that arise from normal market conditions and therefore the concepts of demand and supply equilibrium were tough for me to understand.