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What do you understand by the word Microeconomic?
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[QUOTE="Mataracy, post: 84846, member: 28733"] As the name implies, Micro which means Small. Therefore we can now describe microeconomic as the study of the economic actions of individuals and small groups of individual, " the study of particular firms, particular commodities . It concerns itself with the analysis of price determination and the allocation of resources to specific uses. Microeconomics studies: (1) how resources are allocated to the production of particular goods and services. (2) how goods and services are distributed among people and (3) how efficiently they are distributed . Any country or company that is more knowledgeable in management will surely value all this ideal. Your own opinion is welcome. What do know about Microeconomic? [/QUOTE]
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What do you understand by the word Microeconomic?
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