Question

What are the importance of micro economics?​

Answer 1

Answer:

Micro economics helps to explain many international trade aspects like effects of tariff, determination of exchange rates, gains from international trade etc. It is also useful in public finance to analyze both, the incidence as well as effect of a particular tax.

Explanation:

Answer 2

Answer:

Microeconomics facilitates easy comprehension of the economic system. It provides the required tools that enable the formulation of various economic policies. It also provides techniques that facilitate the easy formulation of economic strategies and economic regulations.

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