In this course we are going to learn micro economics as the branch of economics that focuses on the behavior of individual consumers and firms and how they make decisions regarding the allocation of the limited resources. Under this course there are some of the key concepts like supply and demand ,elasticity, consumer behavior, Production and costs. Market structure and failures and government intervention.
⁷Microeconomics is the social science that studies the implications of incentives and decisions and how they affect the utilization and distribution of resources on an individual level. It shows how and why different goods have different values. It addresses how individuals and businesses conduct and benefit from efficient production and exchange and how individuals can best coordinate and cooperate with each other. Terms that i will find in this course are like macroeconomics, economic,utility,incentive,supply and demand,resources,production and etc .
