Study of the economic behavior of individual units of an economy (such as a person, household, firm, or industry) and not of the aggregate economy (which is the domain of macroeconomics). Microeconomics is primarily concerned with the factors that affect individual economic choices, the effect of changes in these factors on the individual decision makers, how their choices are coordinated by ... Read more

USAGE EXAMPLE

If you want to try and emulate a successful businesses, you can really break down theirmicroeconomics to try and gain insight from what they did well.