Main Page | See live article | Alphabetical index Microeconomics is the study of the economic behaviour of individual consumers, firms, and industries and the distribution of total production and income among them. It considers individuals both as suppliers of labour and capital and as the ultimate consumers of the final product. On the other hand, it analyzes firms both as suppliers of products and as consumers of labour and capital. Microeconomics seeks to analyze the market form or other type of mechanism that establishes relative prices among goods and services and allocates society's resources among their many alternative uses. Concepts in microeconomics Scarcity - Opportunity cost - Free goods Consumer Theory - Preference - Indifference curve - Utility - Marginal utility - Income Aggregation of individual demand to total, or market, demand Supply and demand - Elasticity - Consumer and producer surplus Market form - Perfect competition - Monopoly - Monopolistic competition - Oligopoly Production, costs, and pricing - Production theory basics - production possibility frontier - Production function - Economies of scale - Economies of scope - Profit maximization - Factors of production - Price discrimination - Transfer pricing - joint product pricing - price points Pareto efficiency - Kaldor-Hicks efficiency - X-efficiency Concentration ratio - Herfindahl index Market failure - Externality General equilibrium Game theory See also Taxes - Tariff Lorenz curve - Gini coefficient - Poverty level Efficient markets theory in Financial economics Risk. List of terms in urban economics International trade - Terms of trade - List of international trade topics Macroeconomics Economics List of Marketing Topics List of Management Topics List of Economics Topics List of Accounting Topics List of Finance Topics List of Economists This article is from Wikipedia. All text is available under the terms of the GNU Free Documentation License.