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English definition of “microeconomics”

microeconomics

noun [U]
 
 
/ˌmaɪkrəʊiːkəˈnɒmɪks/
ECONOMICS the part of economics that studies individual markets and businesses, or how individual people spend or earn money: Anyone conversant with basic microeconomics knows that it is covering fixed costs that a firm needs to worry about, not total or variable costs. → Compare macroeconomics
(Definition of microeconomics from the Cambridge Business English Dictionary © Cambridge University Press)
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