Meaning of “microeconomics” in the English Dictionary


"microeconomics" in Business English

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microeconomicsnoun [ U ]

uk /ˌmaɪkrəʊiːkəˈnɒmɪks/ us

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.

(Definition of “microeconomics” from the Cambridge Business English Dictionary © Cambridge University Press)