Merits and Demerits of micro economics
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Advantage and Disadvantage of Microeconomics
Understand the working of the economy. The knowledge of micro-economics is indispensable to know the working of the economy. ...
Efficient allocation of resources. ...
Useful in business decision-making. ...
Study of human behavior. ...
Formulation of public policies. ...
May not be true in aggregates.
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Macroeconomics is highly useful for understanding the various economic.
...
Micro economics is based on unrealistic assumptions, especially in case of full employment assumption which does not exist practically.
Micro economics is based on the information dealing with individual behaviour, individual customers
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