Definition of “microeconomics” - English Dictionary

british dictionary

“microeconomics” in Business English

See all translations

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)