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The laws of supply and demand

Q: Microeconomics refers to?

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The laws of supply and demand

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true

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true

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a section of the economy rather than as a whole

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Microeconomics is the study of how households and firms make decisions and how they interact in markets. Microeconomics explores the patterns of supply and demand that determine how prices and outputs are established in individual markets. www.textbookvideos.com

Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.

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