microeconomics
n. branch of economics (dealing with allocation of limited resources, economic phenomena and the individual consumer) | ||||
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Microeconomics definition was found in categories: Business & Finance(2) Language, Idioms & Slang(1) Social Science(2) Encyclopedia(1)
Microeconomics Definition from Business & Finance Dictionaries & Glossaries
| Campbell R. Harvey's Hypertextual Finance Glossary |
Microeconomics
Analysis of the behavior of individual economic units such as companies, industries, or households.
Analysis of the behavior of individual economic units such as companies, industries, or households.
| Raynet Business & Marketing Glossary |
Microeconomics
the study of the behaviour of small economic units, such as that of individual consumers or households; opposite of macroeconomics.
the study of the behaviour of small economic units, such as that of individual consumers or households; opposite of macroeconomics.
Microeconomics Definition from Language, Idioms & Slang Dictionaries & Glossaries
| WordNet 2.0 |
microeconomics
Noun
1. the branch of economics that studies the economy of consumers or households or individual firms
(hypernym) economics, economic science, political economy
Noun
1. the branch of economics that studies the economy of consumers or households or individual firms
(hypernym) economics, economic science, political economy
| Environmental Economics Glossary |
Microeconomics
The study of the individual parts of the economy, the household and the firm, how prices are determined and how prices determine the production, distribution and use of goods and services.
The study of the individual parts of the economy, the household and the firm, how prices are determined and how prices determine the production, distribution and use of goods and services.
| A Glossary of Political Economy Terms |
Microeconomics
The subdivision of the discipline of economics that studies the behavior of individual households and firms interacting through markets, how prices and levels of output of individual products are determined in these markets, the interconnections by which different markets affect each other, and how the price mechanism allocates resources and distributes income.
[See also: macroeconomics , economics , political economy ]
The subdivision of the discipline of economics that studies the behavior of individual households and firms interacting through markets, how prices and levels of output of individual products are determined in these markets, the interconnections by which different markets affect each other, and how the price mechanism allocates resources and distributes income.
[See also: macroeconomics , economics , political economy ]
Microeconomics Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Microeconomics
Microeconomics (or price theory) is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold.
Microeconomics examines how these decisions and behaviours affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the supply and demand of goods and services.
Macroeconomics, on the other hand, involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national economic policies relating to these issues" and the effects of government actions (e.g., changing taxation levels) on them. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations' — i.e. based upon basic assumptions about micro-level behaviour.
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