Maharashtra State BoardHSC Arts 12th Board Exam
Advertisement Remove all ads

Define Or Explain the Concept Micro Economics - Economics

Define or Explain the concept 

Micro economics 

Advertisement Remove all ads

Solution

Microeconomics deals with the issues pertaining to individual economic units, basically consumers, and firms, that interact in the market of different good and services. Here, we study how consumers make their consumption choices and decisions given their money income and the prices of goods and services. We analyse how the firms decide how much to produce and by different input combinations and how prices are determined in both commodity market as well as in the factor market based on the demand and supply analysis.

Concept: Importance of Micro Economics
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×