REFLECTION OF MICROECONOMICS IN EVERYDAY ACTIVITY
reflection of microeconomics in everyday activity MICRO-ECONOMICS - Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions about the allocation of resources. It focuses on how these decisions impact the value of goods and services, and how individuals and businesses interact with each other. Every day we go through various instances that is related with microeconomics , it impacts our life so much that we can’t even think of life without micro- economics. I would like to show the impact of micro economics in our daily life by listing my one day experience and observation of how micro-economics impact our life. I would like to begin with my morning schedule, so everyday when I wake up I want some dry fruits and biscuits as a snack , but that day my favourite biscuits got over so I went for another biscuits, here it highlights that I have substituted my one biscuits for another , so it shows the substitutio...