Microeconomics

Definition

• The study of the individual parts of the economy, with emphasis given to the market process and how it works.

Synonyms
individual business financials, financial affairs, individual finances

Related Terms and Acronyms

• Deflation — Definition,
  • An actual decline in the general level of prices in the economy.
• Depreciation — Definition,
  • The gradual loss of value of a building or other property because of age or natural wear.
• Depression — Definition,
  • A prolonged downturn in the economy and level of business activity.
• Economic Indicators — Definition,
  • Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
• Fiscal Policy — Definition,
  • The use of government spending and taxation policies to influence the economy.
• Gross Domestic Product (GDP) — Acronym,
  • The total value of all the goods and services produced by the Canadian economy in a single year.
• Inflation — Definition,
  • A rise in the average level of prices in the economy.
• Inflation Protection — Definition,
  • A protection found in some insurance policies that allows policy limits to increase with inflation.
• Macroeconomics — Definition,
  • A study of the economy as a whole, particularly the interaction of its various components.
• Monetary Policy — Definition,
  • The Bank of Canada's ability to influence the economy through changes in short-term interest rates and the money supply.
• Recession — Definition,
  • A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.