Doctoral Thesis / Dissertation from the year 2013 in the subject Economics - Micro-economics, grade: A, ( Atlantic International University ) (BUSINESS MANAGEMENT AND ECONOMICS.), course: REGIONAL DEVELOPMENT, language: English, abstract: Human beings have wants and they are naturally not self sufficient. They therefore have to produce and exchange what they do not have with those who have what they want. Right decisions have to be made in regard to the quantities to produce and the prices to charge by firms. This is done through the demand and supply theory. Supply and demand in most economies face a lot of challenges. Supply challenges range from small firms with structural supply rigidities to huge firms that act as monopolists and cartels that charge exploitative prices on the consumers. These challenges affect the trading position of several economies in the international trade. Demand is rapidly increasing due to the rapid world increase in population. This paper will cover analysis of decisions of a firm, supply and demand of a commodity, price of a commodity and how the small economic groups and individuals affect the mentioned variables 1.1. Objectives of the study. The course will; - Introduce students to important principles of microeconomics so that they are able to take important decisions in life. - Enable students acquire principles that enable them to analyze day today problems.