microeconomics[mī′krō ek′ə näm′iks, -ē′kə-]
- The definition of microeconomics is the study of how all of the elements in an economy function together.
An example of microeconomics is the study of consumer behavior.
noun(used with a sing. verb)
microeconomics - Investment & Finance Definition
The branch of economics that examines how economic decisions are made by individual businesses, households, and industries. In contrast, macroeconomics analyzes big-picture economic decision-making throughout the economy and examines the effect that employment or inflation is likely to have on the economy. See also macroeconomics.