Väikemajandus

Väikemajandus, also known as microeconomics, is a branch of economics that studies the behavior of individual economic agents, such as households and firms, and their decision-making regarding the allocation of scarce resources. It focuses on how these agents interact in markets and how prices are determined.

Key concepts within microeconomics include supply and demand, which explain how prices and quantities are established in competitive markets. It also examines market structures, such as perfect competition, monopoly, monopolistic competition, and oligopoly, and their impact on economic outcomes. Consumer theory, which analyzes how individuals make choices to maximize their utility given their budget constraints, is another fundamental area.

Producer theory, on the other hand, investigates how firms make decisions about production levels and input usage to maximize profits. Microeconomics also delves into concepts like elasticity, market failures, externalities, and public goods, exploring situations where markets may not efficiently allocate resources and the potential role of government intervention. The insights from microeconomics are crucial for understanding a wide range of economic phenomena, from individual purchasing decisions to the functioning of specific industries.