Microeconomics is a branch of economics that focuses on individual agents and their economic behavior within specific markets.
It examines how households, firms, and industries make decisions regarding resource allocation, production, consumption, and pricing.
Microeconomic analysis delves into factors like supply and demand, market structures, and individual preferences, aiming to understand the intricacies of small-scale economic interactions.
By studying these elements, microeconomics provides insights into the functioning of markets, the impact of government policies, and the allocation of resources at the individual and firm level in a broader economic context.
