Question

Explain the features of micro economic

Answer 1

Study of individual units: Individual economic unit refers to the smallest part of an economy viz. ... Micro economics studies the economic behaviour of such individual economic units. In other words, micro economics splits the economy into small individual units and further studies each unit separately
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Answer 2

Individual economic unit refers to the smallest part of an economy viz. individual household, individual firm, individual income, etc. ... In other words, micro economics splits the economy into small individual units and further studies each unit separately.