what are the vital components of microeconomics
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Explanation:
Hence, important aspects of microeconomics include:
Scarcity and Choice.
Efficiency(Productive & Allocative)
Price System(Demand and supply, utility and indifference curve)
Types of market structures(perfect competition, monopoly, oligopoly etc)
Factor market like the labour market.
Answered by
1
Hence, important aspects of microeconomics include:
Scarcity and Choice.
Efficiency(Productive & Allocative)
Price System(Demand and supply, utility and indifference curve)
Types of market structures(perfect competition, monopoly, oligopoly etc)
Factor market like the labour market.
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