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Definition of microeconomics

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Definition of microeconomics

    • Posted by Shubham Kumar 4 years, 3 months ago

    CBSE > Class 12 > अर्थशास्त्र
    • 1 answers

    Yogita Ingle 4 years, 3 months ago

    Microeconomics is the study of the economic behavior of individuals, households and firms’ in decision making and allocation of resources.

    Microeconomics is concerned with:

    • Supply and demand in individual (Textile Market) markets
    • Individual consumer behaviour. e.g. Consumer choice theory
    • Individual producer behavior.
    • Individual labour markets, g. demand for labour wage determination in that individual market

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