Accountancy, asked by singhaakash0223, 4 months ago

1) Explain the importance of Micro economics.

Answers

Answered by devika2271

Answer:

Micro economics helps in explaining how the prices of different commodities are determined. It also explains how the prices of various factors of production such as rent for land, wages for labour, interest for capital and profits for entrepreneur are determined in the commodity and factor market.

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