Microeconomics explains why people can never have enough of what they want and how that influences policies
- Written by: Amitrajeet A. Batabyal, Arthur J. Gosnell Professor of Economics, Rochester Institute of Technology
Microeconomists study how individuals and companies balance their desires and needs with costs and available resources.invincible_bulldog/iStock via Getty ImagesEconomics is broadly divided into macroeconomics and microeconomics. The big picture, macroeconomics, concentrates on the behavior of a national or a regional economy as a whole: the...
