Meaning,defination,type scope importance and limitations of microeconomies
Answers
Answered by
5
Heya....
# Meaning and definition...
Microeconomics is the study of economic issues at micro or individual level....
Or....
It tells the solution of micro level economic issues and theories...
# Importance....
To estimate the demand and supply function of an individual...
To make up the policies of micro optimum utilization...
# Limitations....
It can only be of individual not of whole economy...
It doesn't sufficient to make govt policies...
# Scope...
Theory of demand...
It estimate how a consumer want to demand for a commodity account if price...
Theory of supply...
Producers choice of production account of input cost...
Theory of price...
Determined by market forces as supply and demand..
# Meaning and definition...
Microeconomics is the study of economic issues at micro or individual level....
Or....
It tells the solution of micro level economic issues and theories...
# Importance....
To estimate the demand and supply function of an individual...
To make up the policies of micro optimum utilization...
# Limitations....
It can only be of individual not of whole economy...
It doesn't sufficient to make govt policies...
# Scope...
Theory of demand...
It estimate how a consumer want to demand for a commodity account if price...
Theory of supply...
Producers choice of production account of input cost...
Theory of price...
Determined by market forces as supply and demand..
Similar questions