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Friday, 29 June 2018

Short note on Limitation of Micro economics

Limation of Micro Economics

Economists talk about an assumption while studying micro economics i.e full employment in the economy which infact is not possible and true. Therefore it is the biggest limitation of micro economics. Another limitation of Micro economics is that we can't get a clear picture about whole economy because in micro economics we study only a particular unit. For example, It may be possible that an individual industry ( e.g Textile) is flourishing but industry as a whole ( whole economy) is not achieving desired growth.

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