BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The approach of micro economics starts with the decisions of an individual about the allocation of time and revenue. The study of micro economics purely involves the study of factors on individual basis.

Detailed explanation-2: -Microeconomics is based on models of consumers or firms (which economists call agents) that make decisions about what to buy, sell, or produce-with the assumption that those decisions result in perfect market clearing (demand equals supply) and other ideal conditions.

Detailed explanation-3: -Microeconomics studies the study of economics from the view point of an individual unit. Price theory studies how prices of goods are determined in the commodity market and how process of factors of production are determined in the factor market. Thus micro economics is also known as price theory.

Detailed explanation-4: -Study of macroeconomics involves the study of the economy as a whole considering all large factors whereas Microeconomics is a study of an individual economic unit. It is a narrower concept including only individual factors of any firm, company.

Detailed explanation-5: -Microeconomics is the study of individuals and business decisions, while macroeconomics looks at the decisions of countries and governments. Though these two branches of economics appear different, they are actually interdependent and complement one another.