microeconomics
/ˌmaɪkroʊˌɛkəˈnɑmɪks/
noun
- The branch of economics that studies the behavior of individual people, households, and businesses in making decisions about resources and prices.
- In microeconomics, you learn how a single company decides how much to charge for its product.
- She chose to study microeconomics because she wanted to understand small business decisions.
- Understanding microeconomics helps you see why the price of milk changes at your local store.
Antonyms