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How will what have you learned in microeconomics be useful to you in the future? Do...

How will what have you learned in microeconomics be useful to you in the future? Do you think it will help you in future classes? your careers?

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Answer #1

Microeconomics helps a person to understand and analyse the mechanisms of a market. So they are of great use both for the producers and for the consumers.

Future use of Microeconomics for a person running a firm can be to understand the level of optimal production and avoid wastage of resources. This will help that person to earn profits.

Also if a person is a part of government, then knowledge of Microeconomics will help that person to deal with the issues of unemployment, growth, inflation.

Yes, it will be helpful for the future classes also by giving them knowledge about market mechanisms, problems prevailing in the economy. Through all this information, future classes will be able to work in the direction of growth of economy.

It is very useful for careers like running a business, policy makers.

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