Economics can be more practical if relationship and risk, as well as scarcity and abundance, are considered key elements in economic analyses. By applying relations and risks through MPT, the long and difficult task of introducing an appropriate economic environment into a balanced pricing model...

To rewrite our economics textbooks, we must begin by describing more realistically what is occurring for a producer. Moreover, when uncertainty or risk is taught, the Markowitz portfolio theory must be referred to for association. This study shows that, by applying both elements of the expected...

Demand analysis in general needs to deal with two fundamental elements: the first is the necessary identification of timing and special differences and the second is the necessary separation of ability and willingness in personal consumption behavior. Only by taking both considerations into...