What is Microeconomics Microeconomics is considered the starting

What is Microeconomics? Microeconomics is considered the starting point of Macroeconomics, and deals with individual and small business economic decisions. These individual decisions, in aggregate, affect the demand supply of goods and services throughout the entire economy. Microeconomics is the behaviour of individual economic unit and this unit includes consumer, workers, investors, stockholders, owner of land, business firms , factory, any individual and entity that plays a role in functioning our economy By Bhadresh Bhatt

Examples of Microeconomics Two example are given in book Microeconomics, R. S. Pyndick, D. L. Rubinfeld 1) Corporate Decision making- FORD introduces the Taurus programme is required large sum of money and ford has consider risk involved and possible outcomes. Some of risk due to uncertainty over the future price of gasoline and wages that would have to pay workers. 2) Public Policy Design- Automobile Emission Standard The design of programme like that the clean air act involves a careful analysis of the ecological and health effects of auto emission. But it also involves a good deal of economics. First is the Government has to evaluate the monetary impact of the programme on consumers. The emission standard effects to both supplies and buyer. By Bhadresh Bhatt