Who is known as the ‘Father of Microeconomics’?

🔑Key Points:
Alfred Marshall was an English economist and Father of Microeconomics.
Alfred Marshall was the founder of neoclassical economics Principles.
Alfred Marshall brought the idea of supply and demand, marginal utility and cost of production into economics.

🔴Additional Information:
Microeconomics is the study of the behaviour of individual economic agents in the markets for different goods and services and tries to figure out how prices and quantities of goods and services are determined through the interaction of individuals in these markets.
Microeconomics involves the study of key concepts like Incentives and behaviours, Utility theory, Production theory and Price theory.