Question

Example for micro economics in detail not short examples if interested plz explain

Answer 1

Answer

Micro Economics

Microeconomics is the study of individuals, households and firms' behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.

Examples of Micro Economics

An example of microeconomics—

↔The study of how individuals or individual businesses allocate resources—could be the way in which a family plans for a vacation to Disney World. In other words, microeconomics involves consideration of trade-offs.

↔Markets. Markets such as supply

↔demand in a labor market

↔Market Failure

↔Competition

↔Price Stability

↔Goods

↔Productivity

↔Efficiency

thanks

Answer 2

Answer:

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▶️ Microeconomics is a part of economics concerned with single factors and the effects of individual decisions.

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