Define Micro Economics. Give two examples of micro economic variables
Answers
Answered by
21
Answer:
Microeconomics is primarily concerned with the factors that affect individual economic choices, the effect of changes in these factors on the individual decision makers, how their choices are coordinated by markets, and how prices and demand are determined in individual markets. The main subjects covered under microeconomics include theory of demand, theory of the firm, and demand for labor and other factors of production.
some examples of microeconomics:
How a local business decides to allocate their funds.
How a city decides to spend a government surplus.
Similar questions