Economy, asked by shaivalijoshi7553, 9 months ago

Why are microeconomics is called small economics

Answers

Answered by sivasanjana

Explanation:

Microeconomics is that part of economic theory which deals with the behaviour of individual units of an economy such as a household, a firm, etc. It is the analysis of economy's constituent elements—households, firms and industries. Micro is a Greek word meaning 'small'. Thus, microeconomics means economics of small.

Answered by sb77670

Answer:

Microeconomics (from Greek prefix mikro- meaning "small" + economics) is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

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