Question

Importance of microeconomics?

Answer 1

Answer:

importance of microbes

they are used to make curd.

they are used in bakery industry.

they are used in bread industry.

for soil fertility.

for cleaning of environment.

hope it will help you......

Answer 2

Microeconomics is an important branch or division of mainstream Economics,which basically examines the functions and interactions of single or narrow aspects or components of the economy such as individual consumer,household,firm or business organisation,single product/service etc.

Explanation:

Importance of Microeconomics:

• Microeconomics analyzes the behavior and interactions of various narrow or micro components of the economy which can indicate important or significant trend or patterns of the aggregate components or aspects of the economy such as the overall market operations,aggregate behavior of firms or industries as a whole,overall patterns of consumer behavior and so on.
• Macroeconomic observations can be used in the national economic policy or decision making by the government.
• Macroeconomic theories and concepts can be useful in attaining optimal level of consumption by the consumers and undertaking important business and production related decision making by the firms or companies that can ensure long term economic growth.
• Current trends in individual consumer behavior,market operations or firm or company behaviors can be employed to conduct important future economic predictions and forecasting.
• Macroeconomic applications and theories are also extensively used to understand the patterns and impacts of international trade and finance.