According to Kenneth Boulding "Micro Economics is the study of particular firms, particular households, individual prices, wages, incomes, individual industries, particular commodities."
It means Micro Economics is a study of economic activity of households as a consumption unit, individual firms & industries as production unit and individual prices, wages, incomes and their determination.
It means Micro Economics is a study of economic activity of households as a consumption unit, individual firms & industries as production unit and individual prices, wages, incomes and their determination.
