Microeconomics

Microeconomics
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  • They keep telling us we need to learn about Microeconomics.
  • Do you know what that is?
  • No, but I can ask my teacher tomorrow. 
  • Well, they are simply us and our families.
  • Mrs. Thompson, what is microeconomics?
  • Well 'micro,' meaning small, is the root word of it. We, as humans, are small part of the economy.
  • I'm confused. How are we microeconomics?
  • When our families spend money, we impact the economy by a small percentage.
  • So, when I spend money, I'm impacting the economy? I thought it could only be affected on a major level.
  • No, it's not always on a major level. It's affected by an individual's decision. It's the opposite of macroeconomics
  • Thanks Mrs. Thompson.
  • So what are microeconomics?
  • They are a type of economics that are based on us as individual and our families. We are the small, or 'micro' part of economics
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