BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Microeconomics is often called price theory to emphasize the important role that prices play in determining market outcomes. Microeconomics explains how the actions of all buyers and sellers determine prices and how prices influence the decisions and actions of individual buyers and sellers.

Detailed explanation-2: -Price theory is also known as microeconomics. Price theory explains the production, consumption, allocation, and pricing of goods and services.

Detailed explanation-3: -Micro economics is also called as the Price theory. It studies the behavior of individual consumers, producers etc. It explains consumption, production, allocation and the pricing of goods. Was this answer helpful?

Detailed explanation-4: -Microeconomics is also known as “price theory” because of its following characteristics: 1. Microeconomics deals with the price mechanism of individual commodities which are determined by market forces of demand and supply.