microeconomics

noun

branch of economics that studies the behavior of individual households and firms in making decisions on the allocation of limited resources

Wiktionary

Pronunciation: /ˌmaɪkɹəʊˌɛkəˈnɒnɪks/ / /ˌmaɪkɹəʊˌiːkəˈnɒnɪks/

noun

Etymology: Etymology tree Proto-Indo-European *mey-der.? Ancient Greek μικρός (mikrós)der. English micro- English economics English microeconomics From micro- + economics.

The field of economics that deals with small-scale economic activities such as those of an individual or company.