Microeconomics Definition, Objectives and Examples

ECONOMY, ACTIVELYSHARE.COM — In general, economic theory is divided into two types, namely microeconomic and macroeconomic. Microeconomics is the science of economics that studies the behavior of consumers and companies.

While macroeconomics is economics that studies how the economy as a whole.

Microeconomics is an economic science that analyzes, sees the process of economic activities.

Another discussion of microeconomics is the study of the behavior of producers and consumers and the determination of market prices, services, products, and the quantity of input factors traded in the market.

What Is The Microeconomics Definition?

Quoted from Investopedia, microeconomics is a science that studies the decisions of individuals and companies to allocate production, exchange, and consumption resources.

That said, microeconomics is the study of the tendency of individuals to make choices in response to changes in incentives, prices, resources, and production methods.

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