Microeconomics

Microeconomics is the branch of economics and it is one of the major subdivisions and it carries the competition which is imperfect and the theory of economics also gives the information about the market situation. The ideal situation for the market is that where buyers and sellers quantity are equal and the market has the healthy competition going on. If the numbers of buyers and sellers are greater and sufficient then the buyer has no significant impact on price. Microeconomic is the study of supply and demand of goods and their reaction in the market.

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From the research it is found out that those markets which are imperfect in nature can create many problems depends upon the nature of product and it effects buyers, sellers and the customers to a great extent. The role of importance of any commodity is equaled important as it is for any market. Microeconomics deals with the growth of the firm and the employment rate and the unemployment in the market.

The purpose of studying microeconomics is to establish an environment where the mechanics of market can be analyzed in depth and it examines the competition in the market and look after what are the reasons for any failure.

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