Скачать или смотреть What are the scopes of microeconomics? economics chapter 1

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microeconomics is a branch of economics that studies the behaviour of individual economic agents such as consumers, producers, and markets. It analyses how they make choices under scarcity and how their choices affect the allocation of resources and the distribution of income.

Microeconomics is a branch of economics that studies the behavior and decision-making of individual economic units, such as consumers, producers, firms, markets, etc. Some of the features of microeconomics are:
What are the three scopes of microeconomics?
The scope of 'Micro Economics' includes mainly three theories. 1 Theory of product pricing 2 Theory of factor pricing 3 Theory of Economic Welfare.

It is also known as price theory because it deals with the determination of prices of goods and services as well as factors of production.
It uses the slicing method to analyze the economy by dividing it into small parts and studying each part separately.
It uses the principle of marginalism to study how changes in one unit affect the total outcome.
It assumes ceteris paribus or other things remaining constant to simplify the analysis and isolate the effects of one variable.
It analyzes the market structure and the degree of competition among different types of firms.
It studies the partial equilibrium of an individual unit without considering the interdependence of other units.
It involves product pricing, factor pricing and theory of welfare as its main topics.
I hope this helps you understand microeconomics better.😊
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