Microeconomics
When the parents discussing about their child. They decide the future goals and how many achievements did they child. So when we know about one person or one individual is called Microeconomics.
When the resources are scarce and they have alternative uses , so we utilise the resources in that way .
1. Producer ======} Maximize the Profit
2. Consumer =====} Maximize the Satisfaction
3. Society ======} maximize the Social welfare
When we discuss the issues of an individual is called Microeconomics.
Such as
# Theory of Demand
# Theory of Supply
# Concept of Cost
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