Microeconomics studies the behaviour in decision making and allocation of resources of individuals, households and firms. It normally deals with markets of goods and services, and economics issues on an individual level. It shows how individuals make choices, what they choose, what factors influence their choices, and how their decisions affect market outcomes such as price, supply and demand. It will help you understand the economic welfare; the level of satisfaction of the people in the economy, identify the allocation of resources within the economy, etc.
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