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What is microeconomics's?
Microeconomics is the study of a section of the economy rather than the economy as a whole (which is macroeconomics). Microeconomics is more concerned with the allocation of scarce resources and the elasticity (sensitivity) of consumers and producers at the level of households and firms. In other, more simple words, it is the laws of supply and demand. The study of individual firms and individual households in a market.
What is micro economic in principle of economic?
Microeconomics is the study of a section of the economy rather than the economy as a whole (which is macroeconomics). Microeconomics is more concerned with the allocation of scarce resources and the elasticity (sensitivity) of consumers and producers at the level of households and firms. In other, more simple words, it is the laws of supply and demand. The study of individual firms and individual households in a market.
Microeconomics refers to?
The laws of supply and demand
Why do you have study microeconomics?
You don't.
Distinguish between Microeconomics and Macroeconomics?
Microeconomics means to study the individual economy while in macroeconomics we study the aggregate economy.
Why do you need study microeconomics?
You don't 'have' to study anything. You study to grow and learn.
Does the study of microeconomics helps?
of course it does you idiot!!
The study of microeconomics involves which of these?
Study one economic concept in depth
Is price of a commodity is study of microeconomics or macreconomics give your reason?
price of a commodity is a study of microeconomics as it deals with the behaviour of individual economic units or commodity.
Microeconomics and macroeconomics?
Microeconomics is the study of how households and firms make decisions and how they interact in markets. Microeconomics explores the patterns of supply and demand that determine how prices and outputs are established in individual markets. www.textbookvideos.com Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
What are the division of economics?
microeconomics and macroeconomics
