Uses and Importance of Micro Economics

Microeconomics is deeply related to the economic behavior of the each individual sector. It occupies an important role in individual activities in both theoretical and practical sectors. Microeconomics was used as a “Single Tool” to observe social economic behavior for many centuries, if we neglect some exceptions. According to Prof. Watson, “It has many uses. […]

Micro Economics

The term ‘micro’ is derived from a Greek word “mikros” whose meaning is small. Thus microeconomics denotes the study of small individual activities. Microeconomics studies the economic action and behavior of individual units and small group of individual units. Thus it is a branch of economic analyses that studies the economic behaviors of individual firm, […]