What are the disadvantages of microeconomics?

Economics Dec 10, 2020

Expert Solution

Disadvantages of microeconomics:

1) Unrealistic:- The microeconomics is based on unrealistic assumptions such as full employment. Full employment situation does not exist in reality and the behavior of one individual can not be the judge as to the behavior of all people.

2) Data inadequate:- The microeconomics provide inaccurate results because it is difficult to get the data of all individuals.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote