Microeconomics deals with the study of organizations' and individuals' choices and their effect on the market. It studies the demand and supply theory and assumes that the market is perfect. It helps decide the product prices by analyzing the demand and supply chain.
This branch of economics deals with the vast concepts like inflation, price levels, GDP, unemployment, etc., and their interconnection with each other. It looks at the economy as a whole and focuses on the behavior of the entire nation.
Managerial economics studies the obstacles and management within an organization. The branch analyzes the economic concepts related to framing rational organizational decisions. It helps to solve business problems using various methodologies of economics.
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