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About micro economics..

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About micro economics..

Post by sujin007 on Thu Dec 06, 2012 7:29 am

Microeconomics seeks to answer questions such as these. The prefix “micro-,” meaning “small,” in the word “microeconomics” refers to the basic, small-scale economic behaviors and decisions that economists in this field study.
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Re: About micro economics..

Post by sujin007 on Thu Dec 06, 2012 7:30 am



Microeconomics examines the impact that economic choices made by individuals, businesses and industries have on resource allocation and the supply and demand of goods and services in market economies.

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Re: About micro economics..

Post by sujin007 on Thu Dec 06, 2012 7:32 am

Because supply and demand determine the price of goods and services, microeconomics also studies how prices factor into economic decisions, and how those decisions, in turn, affect prices.


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