Micro economics: Microeconomics

microeconomics, branch of economics that studies the behaviour of individual consumers and firms. Microeconomics definition Microeconomics is a branch of economics that contemplates the attributes of decision makers within the economy, such as households, individuals, and enterprises. The term ‘firm’ is generally used to refer to all sorts of business activities. Microeconomics differ from the study of macroeconomics, which considers the economy as an entity. To put it in other words, microeconomics refers to the social science that analyses the associations of human action ... Why Microeconomics? We will discuss the following topics: The Themes of Microeconomics What Is a Market? In simple terms, microeconomics help in understanding why and how different goods have different values, how individuals make certain decisions, and how they cooperate with each other.