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What is Micro Economic ? |
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Answer» Micro economic is the branch of economic in which we talk about a individual consumer and a individual producer. Individual consumer try to maximize his satisfaction and individual producer try to maximize his profit that is called micro economic. The term micro is derived from the Greek word "mikros" which means small.Micro-economics is that part of economic theory which deals with individual unit of economy. For eg:a sugar industry, a farm, a household, etc. |
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