Economics has two further fields, macroeconomics and microeconomics. Microeconomics is a largest sub-field of economics which is a study of economic behavior of small economic groups. Everything can be seen from two different pictures, big and small or macro and micro. Macro is a wide-angle lens to look at the thin gs and micro is a narrow-focus lens. Source: http://en.docsity.com/news/economics/microeconomics-theory-explanations-theory/
Throughout microeconomics all of us study the peoples economics. The phrase 'mini' means modest. That is precisely why when we go over the particular business economics like a sole or perhaps the business economics of the individual are called microeconomics.