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.
Short-run macroeconomics is an economic term for the study of supply and demand levels in a period of time before larger market forces can react. This period of time is known as the short run, which generally includes predictable behavior influenced by supply and demand.