Micro Economics, Definition, Uses, and Concepts
Micro Economics, Definition, Uses, and Concepts Assumptions and definitions The word microeconomics is derived from the Greek words μικρό (small, minor) and οικονομία (economics). Microeconomic theory usually begins with the study of a single logical and useful individual. For economists, rationality means that an individual possesses multiple, complete and stable preferences. The technical assumption that … Read more