Different types of market structures are discussed in micro economics

5. To analyze the consumers’ behavior: Rational consumer’s go to the market with a certain amount of money. They coordinate between the ups and downs of commodity prices and his money expenditures. Consumer’s behaviors are that how will buy lower price. In micro economics consumer’s behavior or how a consumer attains equilibrium is discussed in micro economics.

6. Production related discussion: The producer’s take decision in two different ways. Either he selects least cost combination in producing a certain fixed amount of goods. Or he maximizes his level of production from a given cost. How the level of production attains equilibrium in his production process is discussed in micro economics.

7. Optimum distribution of wealth: The maximization of social welfare through optimum distribution of produced goods is discussed in micro economics. If redistribution of wealth remaining unchanged then other consumer’s welfare will minimum. Similarly if through redistribution of wealth, other producer production has increased then it can be said that optimum distribution of wealth has been ensured. All these are discussed in micro economics. From the above discussion we observe that the scope of micro economics is very wide. For that discussion of micro economics is very much significant.