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Answer the following.
What is the importance of Micro economics?
What is the importance of Micro economics?
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Solution
Importance of micro economics are:
- It helps to study the behavior patterns of individual
producer and consumer.
- It helps in the proper allocation of the limited resources
we have.
- It helps to determine the price of various commodities by matching the
demand and supply.
Importance of micro economics are:
- It helps to study the behavior patterns of individual producer and consumer.
- It helps in the proper allocation of the limited resources we have.
- It helps to determine the price of various commodities by matching the
demand and supply.
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