Heena Jagdishkumar Pandhi

Introduction to Microeconomics Heena Jagdishkumar Pandhi

Micro economics looks at the behaviors of individual people and companies within the economy. It is the consumer whose demand is driving force behind the prices and production of particular goods or services. Micro economics deals with an individual firm or a company in the present economy. It deals with relationship between individual units of economy. Consumer behavior is essential in micro economics. The basic principle of micro economics is "Theory of the firm". Micro economics touches the factors of Demand, Supply, Price and Performance of particular commodity in the market.