microeconomics(redirected from Price theory)
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n. (used with a sing. verb)
The study of how businesses, households, and individuals within an economy allocate limited resources.
(Economics) (functioning as singular) the branch of economics concerned with particular commodities, firms, or individuals and the economic relationships between them. Compare macroeconomics
mi•cro•ec•o•nom•ics(ˌmaɪ kroʊˌɛk əˈnɒm ɪks, -ˌi kə-)
n. (used with a sing. v.)
the branch of economics dealing with particular aspects of an economy, as the price-cost relationship of a firm. Compare macroeconomics.
the division of economics dealing with particular aspects of an economy, as the price-cost relationship of a business. Cf. macroeconomies. — microeconomist, n. — microeconomic, adj.See also: Economics
A branch of economics dealing with the study of units within the economy, e.g. firms, markets, and individual consumers.
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|Noun||1.||microeconomics - the branch of economics that studies the economy of consumers or households or individual firms|