Microeconomics: Is a branch of economics studying

Microeconomics is a branch of economics studying the behavior of an individual economic unit. Adam Smith is known as the father of economics and microeconomics . Microeconomics help in contemplating the attributes of different decision-makers in an economy like individuals, enterprises, and households. In simple terms, microeconomics help in understanding why and how different goods have different values, how individuals make certain decisions, and how do they cooperate with each other ... What is microeconomics ? Microeconomics is a part of economics that contemplates the traits of the decision-makers within the economy such as households, individuals, and enterprises. The term ‘firm’ is usually used to refer to all sorts of trades. Microeconomics is different from the study of macroeconomics that considers the economy as an entity. Concepts covered under microeconomics Dearth, choice, and opportunity cost: The manifesto on which the microeconomics notion is built reclines ... Microeconomics is a branch of economics studying the behaviour of an individual economic unit. Adam Smith is known as the father of economics and microeconomics . Microeconomics help in contemplating the attributes of different decision-makers in an economy like individuals, enterprises, and households.