Micro economics: What is Microeconomics

What is Microeconomics? Microeconomics is the study of how individuals and companies make choices regarding the allocation and utilization of resources. It also studies how individuals and businesses coordinate and cooperate, and the subsequent effect on the price, demand, and supply. Microeconomics refers to the goods and services market and addresses economic and consumer concerns. Why are seniors receiving discounts on public transportation systems? Why do flight tickets cost so much ... microeconomics, branch of economics that studies the behaviour of individual consumers and firms. Microeconomics is a field of study that focuses on what incentivizes the decisions that people and companies make and how resources are used and distributed. It provides a more detailed... 14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics.