Answer to Question #155260 in Microeconomics for Sam

Question

what is microeconomics

Answer 1

Microeconomics is a branch of economics that studies the behavior of individual economic units such as consumers, workers, investors, owners of land, business firms, any individual or entity.

Microeconomics explains how and why these units make economic decisions regarding the allocation of scarce resources.

It also explains how the units interact to form large markets and industries