Category: Microeconomics

Microeconomics Content (from Greek prefix Mikro- meaning “small”) 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. Economics may have a reputation as a dismal science, but in fact, it addresses some of the most fundamental problems we face: How to make the best decision given that resources are limits. You can use the tools of microeconomics to decide how best to spend your income.

Microeconomic is the social science that studies the implications of the individual human action. Specifically about how those decisions affect the utilization and distribution of scarce resources. The Microeconomic shows how and why different goods have different values. How individuals make more efficient or more productive decisions, and how individuals best coordinate and cooperate with one another. Generally speaking, microeconomic is considering a more complete, advance and settle science than macroeconomics.