Question

Micro Economics is in fact a micro scopic study of the economy - Explain​

Answer 1

Answer:

Micro economics deals with the study of economic behaviour of small individual economic units such as individual consumer, firm, producer etc. In other words, its approach is individualistic in nature. ... Micro economics is, thus, a microscopic study of the economy. It is also known as price theory.

Answer 2

Microeconomics is the social science that studies the implications of incentives and decisions, specifically about how those affect the utilization and distribution of resources. ... Generally speaking, microeconomics provides a more complete and detailed understanding than macroeconomic

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