What exactly is microeconomics?

Microeconomics, sometimes referred to as price theory, is the study of the economic behavior of individual consumers, firms, or industries, as well as their production and income distribution. Microeconomics, also known as individual economics and microeconomics, mainly takes a single economic unit (a single producer, a single consumer, and a single market economic activity) as the research object, and analyzes how a single producer allocates limited resources to the production of various commodities to achieve maximum profits; how individual consumers can allocate their limited income to the consumption of various goods for maximum satisfaction; how the output, cost, number of factors of production used, and profit of a single producer are determined; how the income of the factor of production is determined; The utility, supply, demand, and how to determine the utility of a single commodity, the quantity of supply, the amount of demand, and so on. Microeconomics Microeconomics is an economic theory that studies the economic behavior of individual economic units in a society, and how the individual values of the corresponding economic variables are determined.

Also known as market economics or ** theory. The central theory of microeconomics is the ** theory. Microeconomics - Analyze the economic behavior of individual economic units, on the basis of which the operation of the market mechanism and its role in the allocation of economic resources in the modern Western economy and society are studied, and microeconomic policies are proposed to correct market failures.

Microeconomics is concerned with the exchange process between individuals and organizations in society, and the basic problem it studies is the determination of resource allocation, and its basic theory is the theory that determines the relative power through supply and demand. So the main scope of microeconomics includes consumer choice, firm supply, and income distribution.

Examine how households and businesses make decisions and how they trade with each other in the market. --From the fourth edition of Principles of Economics Different books have different definitions, but no matter how they change, the objects they study remain the same: the family and the business.

Microeconomics.

Characteristics: Quantitative analysis as the basic method, empirical analysis as the main path, marginal analysis as the main tool, equilibrium state as the analysis basis, and resource allocation.

As the core content, the goal is to maximize individual interests.

The individual volume analysis method focuses on the behavior of a single subject in the operation of the economy and studies the market economy.

The choice behavior of a single economic agent, how consumers choose to consume, how producers choose how to produce, and solve the problem of resource allocation.

Empirical analysis is an objective description of what is, and the corresponding theory is called empirical economics.

Marginal analysis helps us make the right decisions, showing a forward-looking decision. The marginal cost is the new addition, the marginal cost.

It refers to the additional cost that needs to be paid for each additional unit of product. Marginal income refers to the additional revenue that can be generated for each additional product sold. Marginal yield.

It refers to the additional production that comes with each additional piece of income. Marginal utility.

It refers to the new sensation that can be brought by each unit of product consumed.

The equilibrium state is the state in which economic variables reach equilibrium or stability in operation, and it is the state equilibrium in which economic actors are unwilling to change their own decision-making, emphasizing a relatively static state.

Resource allocation includes the three major elements of selection, what to produce, how to produce, and for whom.

Microeconomics is referred to as the first theory, microeconomics takes the choice behavior of a single subject as the research object, the market decision as the research center, and the effective allocation of resources as the research content.

The operation of the microeconomy is composed of two main bodies and two major markets, consumers, manufacturers, product markets and factor markets.

In the product market, the demander of the product is the household, and the supplier of the product is the manufacturer; In the factor market, the demander of the factor is the manufacturer, and the supplier of the factor is the household.

1. Microeconomics.

Definition: Microeconomics, also known as individual economics and small economics, is a branch of modern economics, which mainly takes a single economic unit (a single producer, a single consumer, and a single market economic activity) as a research object for analysis. Microeconomics is an economic theory that studies the economic behavior of individual economic units in a society, and how the individual values of the corresponding economic variables are determined.

Also known as market economics or ** theory.

Scope: Microeconomics covers a wide range of topics, including equilibrium theory, consumer behavior theory, producer behavior theory (including production theory, cost theory and market equilibrium theory), distribution theory, general equilibrium theory and welfare economics, market failure and microeconomic policy.

2. Three basic issues of economics.

What should society produce?

How should it be produced?

Who will consume what is produced?

These three issues are the foundation of every economic system and indeed of every society, whether it is a capitalist, socialist, or communist society, or a low-, middle-, or high-income society. It can be abbreviated as "whw", which means what, how, who.

3. ** and the market.

**It is determined by the market, not the producer.

The market is made up of all customers who have specific needs and desires, and are willing and able to meet their needs and desires through exchange. This is the explanation on Sogou Encyclopedia, to put it simply, the market is the customer, and the customer who wants to buy and sell things to meet a certain demand.

4. Exchange value and use value.

Diamonds have a high exchange value, and if you have a diamond to trade, then you can get a lot of money; But diamonds don't have a high use value, they can neither be eaten nor trimmed on your fence, and are basically boring luxuries.

On the contrary, water is one of the basic necessities of life, not to mention the non-basic uses of water, such as steam power. Water has a high use value, but it is very cheap. In most places, it's free**. Under normal circumstances, it has a relatively low exchange value.

In fact, these two concepts do not exist separately, the same thing can be converted into value through other media, for example, I have a diamond, but I don't have the money to eat the meal, so I sell the diamond for money, and then use the money.

The history of microeconomics can be traced back to Adam Smith's The Wealth of Nations and Alfred Marshall's Principles of Economics. After the 30s of the 20th century, Robinson and Chamberlain put forward the theory of enterprise equilibrium on the basis of Marshall's equilibrium theory. Its system mainly includes:

Equilibrium** Theory, Consumer Economics, Productivity Economics, Enterprise Equilibrium Theory, and Welfare Economics.

<>So far, the development of microeconomics has roughly gone through four stages. The first stage: from the middle of the 17th century to the middle of the 19th century, was the early stage of microeconomics, that is, the embryonic stage of microeconomics.

The second stage, from the end of the 19th century to the beginning of the 20th century, is the stage of neoclassical economics and also the stage of microeconomics. Stage 3:

The period from the 1930s to the 1960s was the completion phase of microeconomics. The fourth stage: from the 60s of the 20th century to the present, is the further development, expansion and evolution of microeconomics.

Looking at the development process of microeconomics and the theory as a whole, ?Analysis always revolves around the core question, so microeconomics is also called on many occasions"Theory and its application"。The history of microeconomics can be traced back to Adam Smith's The Wealth of Nations and Alfred Marshall's Principles of Economics.

After the 30s of the 20th century, Robinson and Chamberlain put forward the theory of enterprise equilibrium on the basis of Marshall's equilibrium theory. This marked the final establishment of the microeconomic system, including: equilibrium theory, consumption economics, productivity economics, enterprise equilibrium theory, and welfare economics.

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Microeconomics is a sub-discipline in economics that studies individual economic behavior and its interrelationships. In microeconomics, people study how to rationally allocate limited resources so that individuals or organizations can achieve maximum benefits. At the same time, microeconomics also analyzes the basic principles and mechanisms of market operation, analyzes the behavioral characteristics and strategies of consumers and producers in the market, and the supply and demand relationship between different roles in the market.

The research objects of microeconomics include individual consumers, individual enterprises, market competition, mechanism and resource allocation, so the research field of microeconomics is very extensive. Microeconomics analyzes many problems in the economy, such as: consumer demand, production and equilibrium of enterprises**, market competition and monopoly, etc.

Microeconomics plays a very important role in formulating sound policies, improving social efficiency and improving the quality of life. In addition, microeconomics often intersects with other disciplines such as political science, psychology, and sociology in practice, forming many new research directions.

It is a branch of modern economics, which mainly analyzes a single economic unit as a research object.

1.Microeconomics is the study of the economic behavior of a single economic unit in a society, and how the individual values of the corresponding economic variables are determined, also known as market economics or ** theory.

2.Microeconomics is an economic theory that studies the economic behavior of individual economic units in a society, and how the individual values of the corresponding economic variables are determined, and analyzes the economic behavior of individual economic units.

3.Microeconomics includes a wide range of topics, including equilibrium theory, consumer behavior theory, producer behavior theory, distribution theory, general equilibrium theory and welfare economics, market failure and microeconomic policy.

4.In the commodity and labor market, as a consumer of the state to call for money according to the different choices of the goods, try to use the limited income from the purchase of the amount of goods to get the maximum utility or satisfaction, the family's choice of goods will inevitably affect the goods, the change of the market is the manufacturer to determine the production of the goods.

5.Research Direction of MicroeconomicsMicroeconomics studies the economic behavior of individuals in the market, that is, the economic behavior of a single household, a single manufacturer and a single market and the corresponding economic variables.

Microeconomics is a branch of modern economics, which is a discipline that mainly analyzes a single economic unit as the object of study.

Microeconomics is an economic theory that studies the economic behavior of individual economic units in a society, and how the individual values of the corresponding economic variables are determined. Based on the analysis of the economic behavior of individual economic units, this paper studies the operation of the market mechanism and its role in the allocation of economic resources in the modern Western economic society, and proposes microeconomic policies to correct market failures.

Concerned about the exchange process between individuals and organizations in society, the basic problem it studies is the determination of resource allocation, and its basic theory is the theory that determines the relative ** through supply and demand. Therefore, the main scope of microeconomics includes consumer choice, manufacturer supply and income distribution.

Microeconomics (English: microeconomics), also translated as microeconomics, sometimes called ** theory, is a branch of modern economics that studies the economic behavior of the most basic unit of the economic system (individuals, enterprises).

Microeconomics focuses on demand and supply, how it affects individuals, makes deals, and forms equilibrium in the market. In addition, the theory of market structure developed by Edward Chamberlain and Joan Robinson, the production decisions of general manufacturers, and the consumer behavior of consumer behavior in consumption decisions have also been synthesized into the core topics of microeconomics with the traditional supply and demand theory of the good old man. Microeconomics is concerned with how people's decisions and behaviors affect the supply and demand of goods and services, who is responsible for deciding, or conversely, how the supply and demand of goods and services are determined.

Microeconomics can be said to be the opposite of macroeconomics, which focuses on the aggregate of economic activity and studies economic growth, inflation, and unemployment. Microeconomics also has policy implications for the overall socio-economic level (e.g. tax levels) [3]. In particular, with the rise of Lucas's critique, most macroeconomic theories have established their own "micro-foundations" – i.e., basic assumptions based on microeconomic theories.