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microeconomics
(redirected from Microeconomic theory)

   Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia 0.02 sec.

microeconomics

Study of the economic behaviour of individual consumers, firms, and industries and the distribution of total production and income among them. It considers individuals both as suppliers of land, labour, and capital and as the ultimate consumers of the final product, and it examines firms both as suppliers of products and as consumers of labour and capital. Microeconomics seeks to analyze the market or other mechanisms that establish relative prices among goods and services and allocate society's resources among their many possible uses. See also macroeconomics.


microeconomics
the branch of economics concerned with particular commodities, firms, or individuals and the economic relationships between them
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It combines presentation of microeconomic theory and macroeconomic theory illustrated by real-world examples from newspapers, magazines, government reports, and economic journals or daily life issues such as the decision to obtain of fixed or variable interest rate on one's mortgage.
95 Hardcover HB172 Nicholson (economics, Amherst College) and new co-author Snyder (economics, Dartmouth College) present a textbook on microeconomic theory that focuses on building intuition about economic models while providing students with the math tools to continue their studies.
It speaks volumes of the power of J-J Laffont to clarify important issues in microeconomic theory.
 
 
 
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