Micro Economics is a _________equilibrium approach. (Partial, General, Total)
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micro economics is a genaral equilibrium approach.
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Answer:
Micro Economics is a _partial_equilibrium approach.
Explanation:
Microeconomics is a study of demand and supply of particular commodity or service.
It studies micro variables.
Partial equilibrium is a condition of economic equilibrium which takes into account only a part or small units of the market to attain equilibrium.
Therefore it is right to state that microeconomics is a partial equilibrium analysis.
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