MICRO-ECONOMICS

Micro-economics

(N) it is a branch of economics that studies the behaviour of individuals, households, or firms to understand their decision-making process

Kinh tế vi mô

Supply and Demand

(N phr.) It refers to the amount of goods available and the amount that people want to buy

Cung và Cầu

Market Equilibrium

(N phr.) It refer to the point at which the level of supply and the level of demand reach balance. It happens when the market works

Cân bằng thị trường

Opportunity Cost

(N phr.) It refers to the potential profit provided by a missed opportunity, the result of choosing one alternative for your money instead of another

Chi phí cơ hội

Marginal Cost

(N phr.) It refers to the extra cost a busnies spends to make just one more product or service

Chi phí cận biên

Consumer Behaviour

(N phr.) It studies how customers make purchasing decisions, including psychological factors, habits, income, and culture. The clear exploring helps enterprisers effectively formulate marketing strategies, improve their products and services to meet customers’ demands

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