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Microeconomics
The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, market equilibriums, and the effect of government regulations.
Individual Industries
Specific sectors of the economy focused on the production of certain types of goods or services.
Decision-Making Units
Groups or individuals within an organization that have the authority and responsibility to make choices that affect organizational outcomes.
Positive Economics
An approach to economics that seeks to understand behavior and the operation of systems without making judgments. It describes what exists and how it works.
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