Microeconomics

Microeconomics studies how the behaviors of individual market participants—such as buyers, sellers, and business owners—affect the allocation of resources.

Explore Microeconomics

Midsection Businessmen Analyzing Charts on Laptop in Office
What Does Elasticity Mean?
Midsection Businessmen Analyzing Charts on Laptop in Office
Indifference Curve
What Is an Inferior Good?
What Is the Law of Demand?
Reflection of stock market graph in window
Long Run Definition
Market Price Definition
How Substitutes Work
Elasticity vs. Inelasticity of Demand: What's the Difference?
What Are Barriers to Entry?
Young people work in modern office.
Law of Diminishing Marginal Productivity Explains the Decay of Cost Advantages
Hotdog and Hamburger on an American flag napkin and toothpick
Marginal Rate of Substitution (MRS)
What Is Rent Seeking?
Internal vs. External Economies of Scale: What’s the Difference?
What Is Disequilibrium?
Businessperson Covering Stacked Coins On Weighing Scale
What Are External Economies of Scale?
Imperfect Market: An Inside Look
Two happy shoppers comparing purchases in shopping bags
Above the Margin: Understanding Marginal Utility
Learn How Companies Display Price Leadership
Short Run: How Some Factors Stay Fixed While Others Fluctuate
How Theory of the Firm Can (or Can't) Maximize Profits
Checking the quality of products and packaging
What Is the Theory of Price?
euro coins sinking in water
Diminishing Marginal Returns vs. Returns to Scale: What's the Difference?
Getting Familiar with Giffen Goods
Choices
How Much of One Good Must You Forgo to Create Another Good?
Why Minimum Efficient Scale Matters
Price Sensitivity: What You Should Know
Accounting
Switching Costs
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Learn to Distinguish Demand Function From Utility Function
What Is a Demand Shock?
Race to the Bottom Definition
Old automation machine
Ratchet Effect Definition
Dynamics and Unfair Advantages of Collusion
Supply Shock
Factory workers doing metal work
What Are Nonfarm Payrolls?
Cash Department Window Currency Exchange
How Do You Calculate the Marginal Propensity to Consume?
What the Compound Net Annual Rate Tells Us
What to Know About Economic Value Added (EVA)
Sales Price Variance Definition
Business Planning
Style Matters In Financial Modeling
Supply
Income Effect vs. Substitution Effect: What's the Difference?
Close-Up Of Coins On Weight Scale
Understanding Economies of Scope vs. Economies of Scale
What Is a Blackout Period?
H-1B Visa to Green Card Backlog: Why Tech Companies Demand Change
Perfect vs. Imperfect Competition: What's the Difference?
On-Line Processing Orders From Storage Room
How Does the Law of Supply and Demand Affect Prices?
What Is Economic Equilibrium?
A young woman is eating a slice of pizza on a white background
What Is Utility in Economics?
The Difference Between Consumer Surplus vs. Economic Surplus
Producer Surplus Definition
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What Is the Income Effect?
Caught
4 Massive Frauds You've Probably Never Heard of
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What Determines a Normal Good
A reflection of a building in the glass of a building where people walk through it in casual clothes
What Is a Supply Curve?
Factory worker assembles car doors on a production line
Understanding Diseconomies of Scale
What Does Inelastic Mean?
Demand Curve
Microeconomics Definition
What Are Economies of Scale?
Comparing Dominant Strategy Solution vs. Nash Equilibrium Solution