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Microeconomics - Simple English Wikipedia, the free encyclopedia

Microeconomics

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Microeconomics is the science of how people make decisions at the small scale. The opposite is macroeconomics. In microeconomics, we might watch how a person chooses what to buy at the store, or how many things a company will make. Some parts of microeconomics include Consumer Theory and Theory of the Firm, which study how people and businesses make decisions. Game Theory watches how people make decisions when the outcome (how something ends) depends on what decision another person makes.

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