Definition of microeconomics

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TeachMeFinance.com - explain microeconomics



microeconomics -- the study of economics in terms of individual areas of activity, such as the economics of a firm, a household, or of single economic components such as prices.

not to be confused with

macroeconomics -- the study of economics in terms of whole systems, especially with reference to general levels of output and income and to the interrelations among sectors within the economy. See microeconomics.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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