Microeconomics is defined as an economically focused studies on the economic activities carried out by small units in the economy.
Microeconomic studies made on the economic activities carried out by individuals, firms, and government, for example, a study on the effect of higher individual income on individual demand and rising prices on the bidding firm.
In general, the study covers microeconomic price theory, theory of supply and demand, production theory, market theory and the theory of distribution.
Friday, June 17, 2011
The concept of Microeconomics
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