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Introduction To Micro-Economics — Economics STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11EconomicsIntroduction To Micro-Economics3 Marks
Question
State the importance of microeconomics.
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Answer

  1. To understand the operation of an economy.
  2. To provide tools for economic policies.
  3. To examine the condition of economic welfare.
  4. Efficient utilization of resources.
  5. Useful in international trade.
  6. Useful in decision making.
  7. Optimal resource allocation.
  8. The basis for prediction.
  9. Price determination.

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