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micro economics

micro economics

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Published by mannahanz

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Categories:Types, Research
Published by: mannahanz on Mar 23, 2010
Copyright:Attribution Non-commercial

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06/13/2013

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Micro Economics
 
Economics can be broadly divided into twocategories:
microeconomics
and macroeconomics.
Macroeconomics studies the economic systemin aggregate and relates to issues such asdetermination of national income, savings,investment, employment at aggregate levels, taxcollection, government expenditure, foreigntrade, money supply, price level, etc.
 
micro-economics studies the behavior of anindividual decision-making economic unit like afirm, a consumer, or an individual supplier of some factor of production
I
n simple terms, managerial economics isapplied micro-economics.
I
t is an application of that part of micro-economics, which is directlyrelated to decision making by a manager.

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