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 problem, of course, is that both of those facts can be true, and what is good macroeconomically can be very bad for your personal microeconomy. Think of it this way: If you lose your job when your typewriter factory is closed in favor of a new facility in Mexico, how much better will you feel after reading an article recounting the latest tally of Microsoft millionaires?
The classical model of competitive capitalism not only failed to solve the problem of power in the microeconomy, but also caused great instability in the macroeconomy.
Collectively, these technostructures and the corporations that they manage provide the private decentralized planning of the microeconomy which supplements the public centralized planning of the macroeconomy.
That is, we conceptualize the family as a microeconomy, micropolity, and microsociety and consider asymmetries along various dimensions: the relative position of wives and husbands in their resources, their voice in family decisions, and the respect they accord each other.
In China, all of this has led to the development of a thriving microeconomy that simply didn't exist previously.
The study of repertoire, a subject central to Victorian theatre historiography, corresponds with inquiries about the schedule of (re)investment, the cycles of prosperity within a company and beyond in the microeconomy of a community willing to support it, and the fluctuating effects (seasonal and longer) on the employment available to women, men, and children.(38) Development of long runs, an issue related to repertoire, takes rather different partners in the social sciences.
In an attempt to determine the impact of marijuana use on worker productivity, Kagel, Battalio, and Miles (1980) created an experimental microeconomy within which volunteers worked and lived.
The microeconomy was viewed as consistently (or at least tolerably) competitive and, therefore, efficient, in the absence of excessive government intervention.
In the process of moving from chaos to market socialism, building a microeconomy is fundamental.
In crucial areas such as the world economy, or the "microeconomy" of business, markets, producers, and consumers, we hardly have anything yet that deserves to be called folklore, let alone theory.
Cuba's microeconomy is already moving into the hands of self-employed cuentapropistas and small businesses, while subsidies are being eliminated and a market-based economy is starting to dominate.
and events in the microeconomy. ..."(126) For example, productivity is a central economic problem today, unlike 50 years ago when Keynes could assume that productivity would take care of itself.