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Delicious77 [7]
3 years ago
12

Which are characteristics of microeconomics? (Select all that apply.)

Business
1 answer:
dezoksy [38]3 years ago
5 0
Characteristics/Features of , microeconomics

Nature of Analysis - In microeconomics the behavior of individual consumers and producers  in detail is analyzed. It is the study of the subject matter from particular to general.

Method - Microeconomics  divides the economy into various small units is analyzed in detail.  It is a slicing method.

Scope - Microeconomics analysis involves product pricing. factor pricing and theory of welfare.


Application - Both theoretically and practically , micro economics is useful in formulating various policies, resource allocation. Public finance, international trade....


Nature of  Assumption - Assumption of  Ceteris Parabus is always made in every microeconomics theory. it means theory is applicable only when other things being same.




Hope that helps!!!!




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