economics
microeconomics
The branch of economics concerned with individual consumers, firms, and the decisions they make.
Example
"Microeconomics studies how a single firm decides how much to produce and at what price."
💡 Memory Tip
MICRO = small. Microeconomics zooms in on individual decisions, not the whole economy.
Etymology
From Greek 'mikros' meaning 'small' + economics — the small-scale view of individual economic actors.
Common Misspellings
micro economicsmicroecnomicsmicroeconomismicroecomomics
Related Terms
See Also
marketconsumer