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Adjacty what is micro economics

Dear student Your question is framed as follows - What is microeconomics ? Ans - Microeconomics is a study that mainly focuses on the individual consumer and producer's behaviour. It is also known as the price theory as it primarily focuses on how prices are determined both in commodity and factor markets. The main tools of analysis are demand and supply. We study the problem of the allocation of resources in microeconomics. Regards

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In short,?microeconomics?is the study of the economy from the perspective of individuals or companies within an economy. Where?macroeconomics, the other main field of economics study, is more concerned with the economy as a whole, students ofmicroeconomics?look at the economy from a bottom-up perspective.
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1.Micro economics is the problem for scarcity and choice of the level of an individual as household, a firm or an industry.
2.It used microeconomic variable such as consumer demand or producers supply.
3.Allocation of resources is a central issues in microeconomics.
4.It deals the individual behaviour.
5.Method of study in microeconomics is often described or Portial equilibrium analysis.
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