Question

Briefly explain tge merits abd demerits of micro economic?

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Answer 1

Explanation:

May not be true in aggregates. The use of the conclusions of the equilibrium of small units or the partial equilibrium in case of the economy as a whole provides wrong conclusion. ...

Assumption of full employment unrealistic. ...

Concentration on small parts.

Answer 2

Merits and demerits of micro economics

1 Understand the working of the economy.

2 Efficient allocation of resources.

3 Useful in business decision-making.

4 Study of human behavior.

5 Formulation of public policies.

6 May not be true in aggregates.