Question

Which one of the following is a
microeconomic study?
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Answer 1

Answer:

ᴅᴇғɪɴɪᴛɪᴏɴ: ᴍɪᴄʀᴏᴇᴄᴏɴᴏᴍɪᴄs ɪs ᴛʜᴇ sᴛᴜᴅʏ ᴏғ ɪɴᴅɪᴠɪᴅᴜᴀʟs, ʜᴏᴜsᴇʜᴏʟᴅs ᴀɴᴅ ғɪʀᴍs' ʙᴇʜᴀᴠɪᴏʀ ɪɴ ᴅᴇᴄɪsɪᴏɴ ᴍᴀᴋɪɴɢ ᴀɴᴅ ᴀʟʟᴏᴄᴀᴛɪᴏɴ ᴏғ ʀᴇsᴏᴜʀᴄᴇs. ɪᴛ ɢᴇɴᴇʀᴀʟʟʏ ᴀᴘᴘʟɪᴇs ᴛᴏ ᴍᴀʀᴋᴇᴛs ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ᴀɴᴅ ᴅᴇᴀʟs ᴡɪᴛʜ ɪɴᴅɪᴠɪᴅᴜᴀʟ ᴀɴᴅ ᴇᴄᴏɴᴏᴍɪᴄ ɪssᴜᴇs.

Answer 2

Answer:

Micro economics deals with the study of economics from the view point of an individual unit. Factor pricing refers to the prices of various factors (like land, labor, capital and entrepreneurship) of production which is decided on the basis of market forces, i.e. demand, supply, and income which are micro variables.