Microeconomics: Analyzes the market mechanisms that enable buyers

Microeconomics analyzes the market mechanisms that enable buyers and sellers to establish relative prices among goods and services. Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. [1][2][3] Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy ... 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.