define micro economics and explain its importance
Answer (1)
Student Expert
25th Jul, 2021
Dear student,
Micro Economics is a branch of Economics which deals with tendencies when the individuals will make any choices in reference to changes in prices, incentives, methods of production etc. Micro Economics sub groups are Business Owners, Sellers and Buyers.
Importance of Micro Ec onomics.
Micro Economics deals with the working of a economy where individual are set free to take decisions on their own. It helps Government in deciding correct Policies for prices.
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