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Definitions from the WebTerm: microeconomicDefinition:Microeconomic refers to the branch of economics that studies the behavior of individuals, households, and firms in making decisions regarding the allocation of limited resources. Sense 1 - Adjective:In the context of economics, microeconomic analysis focuses on the smaller-scale interactions and decisions of economic agents. Example sentence: In microeconomic theory, the concept of supply and demand is used to analyze how prices are determined in a specific market. Sense 2 - Noun:The term "microeconomic" can also be used as a noun to refer to the economic theories and principles of microeconomics. Example sentence: The study of microeconomic helps us understand the behavior of individual consumers and producers in a competitive market. Related products on Amazon: | ||||
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