GLOSSARY MICROECONOMY 1. Microeconomy: Microeconomy is the economics part that studies the economic behavior of individual economic agents, such as consumers, firms, workers and investors, as well as markets. Consider the choices you make each to fulfill...
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GLOSSARY MICROECONOMY 1. Microeconomy: Microeconomy is the economics part that studies the economic behavior of individual economic agents, such as consumers, firms, workers and investors, as well as markets. Consider the choices you make each to fulfill certain aims. The basic element that focuses on Microeconomy analysis are the goods, prices, markets and economic agents. 1. Depression: a depression is a severe form of economic crisis is a sustained decrease in production and consumption, accompanied by high rates of unemployment and business failures. 2. Economy: Economy is the study of how people in each country or group of countries use or manage their limited resources in order to produce goods and services and distribute them for consumption among members of society so as to satisfy their economic needs. 3. Macroeconomy: Macroeconomy is the part of economic theory that deals with the study of the economy, by analyzing aggregate economic variables such as the total amount of good
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