Maharashtra State BoardHSC Commerce 12th Board Exam
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Define Or Explain the Following Concept :Individual Economic Unit - Economics

Question

Define or explain the following concept :

Individual economic unit

Solution

Microeconomics studies the economic behaviour of an individual economic unit. The smallest part of an economy such as individual household, individual firm, individual income is considered as an individual economic unit. Microeconomics splits the economy into small individual units and further studies such units separately.

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APPEARS IN

 2017-2018 (March) (with solutions)
Question 2.1.1 | 2.00 marks
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Define Or Explain the Following Concept :Individual Economic Unit Concept: Introduction and Features of Micro Economics.
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