222k views
0 votes
Which are characteristics of microeconomics? (Select all that apply.)

User Caffaddt
by
7.8k points

1 Answer

0 votes
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!!!!




User Omari
by
8.0k points

No related questions found