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Microeconomics Concepts – Do They Decide Individual Markets?

April 8th, 2016 Sunil Kumar Microeconomics Concepts
Microeconomics Concepts – Do They Decide Individual Markets?


Microeconomics is the base for gauging individual consumer behavior in market in the areas of demand and purchase of goods. Other factors like supply, opportunity cost etc depend on the demands  of the purchasers and thus Microeconomics concepts like demand, supply, elasticity and opportunity cost are the factors that decide individual markets that, in turn, decide the economy of a country.

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