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    Ritika Choudhary
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    Microeconomics is the study of individuals, households and firms' behavior in decision making and the allocation of resources. It examines markets of goods and services and deals with individual and economic issues. The key differences between micro and macroeconomics are that micro focuses on individual decision making and markets, while macro looks at an overall economy and issues like inflation, unemployment, and economic growth.

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    Assignment 1 (4)

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    Microeconomics is the study of individuals, households and firms' behavior in decision making and the allocation of resources. It examines markets of goods and services and deals with individual and economic issues. The key differences between micro and macroeconomics are that micro focuses on individual decision making and markets, while macro looks at an overall economy and issues like inflation, unemployment, and economic growth.

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    © All Rights Reserved
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    9 views2 pages

    Assignment 1

    Uploaded by

    Ritika Choudhary
    Microeconomics is the study of individuals, households and firms' behavior in decision making and the allocation of resources. It examines markets of goods and services and deals with individual and economic issues. The key differences between micro and macroeconomics are that micro focuses on individual decision making and markets, while macro looks at an overall economy and issues like inflation, unemployment, and economic growth.

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    © All Rights Reserved
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    of 2

    ASSIGNMENT

    Unit I: Introduction to Microeconomics

    1. Explain how are economic theories formulated and economic models constructed.

    2. Explain Micro Economics in detail. Explain the differences between Micro


    Economics and Macro Economics.

    Microeconomics is the study of individuals, households and firms' behavior in


    decision making and allocation of resources. It generally applies to markets of
    goods and services and deals with individual and economic issues

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