Microeconomics

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Microeconomics

Analysis of the behavior of individual economic units such as companies, industries, or households.

Microeconomics

The study of the behavior of individuals, companies, and industries. That is, macroeconomics studies economic decisions at the individual and small unit level. It does not look at the function of larger data sets like GDP or national debt. It is useful in helping determine what motivates individual buyers and sellers to do what they do. See also: Macroeconomics, Bottom-up investing.

microeconomics

the branch of economics concerned with the study of the behaviour of CONSUMERS and FIRMS and the determination of the market prices and quantities transacted of FACTOR INPUTS and GOODS and SERVICES. Microeconomic analysis investigates how scarce economic resources are allocated between alternative ends and seeks to identify the strategic determinants of an optimally efficient use of resources. See also THEORY OF CONSUMER BEHAVIOUR, THEORY OF THE FIRM, THEORY OF MARKETS, THEORY OF DEMAND, THEORY OF SUPPLY, MACROECONOMICS.
References in periodicals archive ?
The organic interwovenness of micro-economics and business economics implies that, along with everything else, business economics as a normal science shares the suppositions of (neo)classic micro-economic theory, including its deficiencies and weak points.
The paper by Shepard Krech III and that by Robert Jarvenpa and Hetty Jo Brumbach document how the trade was conducted in "new' areas: either areas that were opened late in fur trade history, "The Trade of the Slavery and Dogrib at Fort Simpson in the Early Nineteenth Century,' or older areas that have not been examined yet in great detail, "The Micro-economics of Southern Chippewyan Fur Trade History.
PROS 5 Low Fare RMS for Leg-based Environment - applies classical micro-economics, advanced statistical and forecasting techniques, and leading-edge operations research methods to achieve maximum revenue contributions from every flight departure in a low-fare/restriction-free pricing environment
is intended for use in one-term survey of macro- and micro-economics courses for undergraduate students majoring in business, economics, and other disciplines.

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