Question

Date
б
Explain the importance of micro
economics.​

Answer 1

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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Answer 2

Answer:

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Explanation:

microeconomic helps in explaining how the price of different commodities are determined. it also explain how the price of various factors factors for production Such as rent for land, wages for labour, interest for capital and profits for entrepreneurs are determined in the commodity and factor market