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In layman’s understanding, microeconomics can be described as the exploration of how individuals settle on choices at the little scale. Tis may simple look simple but in reality, these small decisions need critical thinking as a simple error made while creating a foundation, could result to massive losses and failure of the whole project. This is why any student taking a microeconomics class need to be attentive and sure of whatever they learn, as they are going to apply the knowledge practically in an economy of a given country or state.
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