Microeconomics is nothing but the basis of economics. The subject studies the actions of the individual and businesses to understand how are the decisions made and implemented. This subject also advises individuals to use limited resources on the optimum.
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What do you understand by micro economics?
There is always a scarcity of resources. People find it difficult to purchase everything that they want with their money earned. In one hand, they have a limited income or finance to purchase the things they like, and on the other hand, there is a demand and supply relation to anything and everything that they use in their day-to-day lives.
Common topics of micro economics
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