What is ' Microeconomics ' Definition: Microeconomics is the study of individuals, households and firms' behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues. Microeconomics is a branch of economics that analyzes the market behavior of individuals and businesses to understand their decision-making processes. microeconomics , branch of economics that studies the behaviour of individual consumers and firms. Unlike macroeconomics, which attempts to understand how the collective behaviour of individual agents shapes aggregate economic outcomes, microeconomics focuses on the detailed study of the agents themselves, by using rigorous mathematical techniques to better describe and understand the decision-making mechanisms involved. The branch of microeconomics that deals with household behaviour is ...
