Question

What is microeconomics?What is its importance?​

Answer 1

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Microeconomics occupies a vital place in economics and it has both theoretical and practical importance. ... It is microeconomics that tells us how a free- market economy with its millions of consumers and producers work to decide about the allocation of productive resources among the thousands of goods and services.

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Answer 2

Answer:

Answer:It is an important method of economic analysis, It is microeconomics that tells us how a free market economy with its millions of consumers and producers work to decide about the allocation of productive resources among the thousands of goods and services. ... It also provide tools to analyse & evaluate economic policies.