The topic studies about the decision of managers or the company to allocate the resources for production, exchange or consumption. Microeconomists differentiate the value of a single product in the market comparing it with those in different markets. It can be positive or normative. Positive has a financial behavior and explains about the expectation if condition change. Basic concepts include incentives and behavior, which is how the reaction will be in different situations. Utility theory, Productive theory and Price theory are the theories of microeconomics. When compared to micro, macroeconomics deals with decisions made by the country or government. Investors make use of the micro in case of their investment details; macro helps in determining the cost of a product. Labour economics is considered a part of micro, trying to understand wage patterns and employment. Detailed description is available in the PowerPoint presentation.

Nithin VS

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