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Overview of microeconomics
Microeconomic research concerns about which selections people are making, what
factors are influencing their decisions, and how their choices impact the markets of
products by affecting costs, supply, and demand.
The term microeconomics came from the Greek phrase "micro," which means "small" and
"economy." This topic essentially focuses on the pattern of supply and demand,
output of the individual market, and price determination. Creating an informative
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Definition:"Microeconomics is the subject of households, individuals, and
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