i. Scope of micro economics.
a) Theory of Product Pricing
b) Theory of Growth and Development
c) Theory of General Price Level and Inflation
d) Theory of Income and Employment
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Micro economics is concerned with demand analysis i.e. individual consumer behaviour, and supply analysis i.e. individual producer behaviour. (b) Theory of Factor Pricing : In Micro economics, land, labour, capital and entrepreneur are the factors that contribute to the production process.
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Theory of growth and development
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