price theory is also know as
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Microeconomics
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Micro economics is the study of individual behaviour and is also known as price theory.
Explanation:
Microeconomics is also known as "price theory" because of its following characteristics:
1. Microeconomics deals with the price mechanism of individual commodities which are determined by market forces of demand and supply.
2.Microeconomics also deals with the pricing of factors of production like land, labour, capital and entrepreneur.
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