Microeconomics is the study of the decisions individuals and businesses make in the larger economy. Every time we decide or do not decide to do something there is an economic impact. The decisions maybe small or large, they may be financial or just how to use our time better. All decisions depend on the use of our resources and our nations resources. Microeconomics is the study of those decisions.
Economic principles enable business managers to make more intelligent decisions.
Economics can help individuals make better buying decisions, better employment choices, and better financial investments. Economics is however, mainly an academic, not a vocational subject. Their primary objective is to examine problems and decisions from a social rather than personal point of view. It is not however a series of how to make money examples. Give each student a better understanding of their role in the economic decisions made by business and government daily.