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Microeconomics: The study of economics in terms
of individual areas of activity, such as the economics of a firm, a
household, or of single economic components such as prices.
This
course is a study of the basic institutions and principles of microeconomics
and so it concentrates on the parts of an economic system; the markets, the
producers, the consumers and the structures of basic industries along with
systems for relative resource use and income determination.
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