Microeconomics is the study of the economic interactions between "consumers and producers".
Microeconomics is the social science that reviews the implications of individual human activity, particularly about how those choices influence the usage and appropriation of rare assets. Microeconomics indicates how and why diverse merchandise have distinctive qualities, how people make more proficient or more beneficial choices, and how people best facilitate and participate with each other. As a rule, microeconomics is viewed as a more total, progressed and settled science than macroeconomics.
