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microeconomics |
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microeconomicsStudy 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 www.helsinki.fi/WebEc/webecd.html How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Written by Clifford Winston (senior fellow in Economic Studies, Brookings Institution), Government Failure Versus Market Failure: Microeconomics Policy Research and Government Peformance examines three decades of empirical evidence in search of the answers to a critical question: When should government intervene in market activity, and when is it better to allow market forces to operate without interference? WHAT DO A STRANDED ALIEN RACE and microeconomics have in common? Colleges and universities are the hubs for this new microeconomics of regional growth. |
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