Microeconomics

Definition

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

Synonyms
individual finances, individual business financials, financial affairs

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.
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