Question

scope of micro economic???​

Answer 1

Microeconomics is a branch of economics that contemplate the attributes of decision makers within the economy, such as households, individuals and enterprises. The term ‘firm’ is generally used to refer to all sorts of business activities. Microeconomics differ from the study of Macroeconomics, which considers the economy as an entity.

To put it in other words, Microeconomics is referred to the social science that analyses the associations of human action, particularly about how those choices influence the consumption and allocation of scarce resources. The concept of Microeconomics shows how and why different commodities have different values, how individuals make more practical or more efficient decisions and how individuals organise and cooperate with each other.

Answer 2

Answer:

Scope And Purpose Of Microeconomics And Its Significance In Business Decision Making. ... Microeconomics refers to the study of individualistic economic behavior at the time of making economic decisions. It studies an individual consumer, producer, manager or a firm, price of a particular commodity or a household.