answer Microeconomics studies, for example, consumer data for a large company: what do people WANT, what are they willing to pay for it, is this a single buy option or do you want the customer to go in for multiple buys of a single product and can you convince consumers to purchase variations on the same product. Please mark me as Brainliest
1) Demand at individual level ,
2)Supply at individual level
3) Production of goods and services at individual level .
1) (i) Study of consumer behaviour: consumer equilibrium and law of demand
2) Study of producer behaviour: producer equilibrium and law of supply.
microeconomics ex:- fuel products, manufacturing products,mining products
macroeconomics:- goods, productivity,market failure ,price stability, productivity etc...
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The following are illustrative examples of microeconomics.
Demand. How demand for goods is influenced by income, preferences, prices and other factors such as :-expectations
:-Opportunity Cost. ...
:-Labor Economics. ...
Two examples of Macroeconomics studies are : (a) Study of price determination of the commodity in the market. (b) Study of consumer equilibrium.
✨ At the level of an individual economic unit, the basic economic problem is the problem of choice to a producer or a consumer. ... A consumer is to allocate his given income to the purchase of different goods and services.
individual income and individual output micro
❇️ Microeconomics is the study of economics at an individual, group or company level.It focuses on supply and demand and other forces that determine the price levels seen in the economy.☺️☺️
#️⃣1️⃣ Microeconomics would look at how a specific company could maximize it's production and capacity so that it could lower prices and compete better un its industry.✔️✔️
❇️ Macroeconomics is the study of the behavior of economy as a whole, not just of specific company but entire industry and economy.☺️☺️
#️⃣2️⃣ Macroeconomics would look at how an increase/decrease in the net exports would affect nation's capital account or how GDP would be affected by the unemployment rate.✔️✔️
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