definition of microeconomics
The definition of microeconomics is the study of how all of the elements in an economy function together. An example of microeconomics is the study of consumer behavior. a branch of economics dealing with certain specific factors affecting an economy, as the behavior of individual consumers, the marketing of particular products, etc.
microeconomics. Study of the economic behavior of individual units of an economy (such as a person, household, firm, or industry) and not of the aggregate economy (which is the domain of macroeconomics).icroeconomics. Study of the economic behavior of individual units of an economy (such as a person, household, firm, or industry) and not of the aggregate economy (which is the domain of macroeconomics).