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- DictionaryMi·cro·ec·o·nom·ics/ˌmīkrōˌekəˈnämiks/
plural
- 1. the part of economics concerned with single factors and the effects of individual decisions.
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- Microeconomics
Branch of economics that studies the behavior of individual households and firms in making decisions on the allocation of limited resources
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as a whole, which is studied in macroeconomics. Wikipedia
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