HSC Arts 12th Board ExamMaharashtra State Board
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Meaning and Definition of Micro Economics? - HSC Arts 12th Board Exam - Economics

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Question

Meaning and Definition of Micro Economics?

Solution

Micro economics deals with the economic behaviour of various economic units in the economy, such as particular firms, particular households, prices of individual products, wages in particular industry, etc.

It studies the economic behaviour of individual firms, households, industry, product pricing and factor pricing as well as allocation of resources.

Thus it studies in detail about a tree and not the forest as whole.

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APPEARS IN

 2015-2016 (March) (with solutions)
Question 2.1.1 | 2.00 marks

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Solution Meaning and Definition of Micro Economics? Concept: Introduction and Features of Micro Economics.
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