Microeconomic concerns the behavior and activities of specific economic units: individuals, households, firms, industries, and resource owners. Microeconomic analysis seeks to explain and predict such things as the prices and outputs of particular firms and industries, the choice of consumers in buying and services, the drivers of the technical change, production efficiency and costs, competitive behavior, and the adjustment of the markets to new conditions. Microeconomics deals with how a company/firm acts and how a market functions.

Wiegand Helmut Fleischer, PhD. Lucian Blaga University in Sibiu. Date of birth: 27th march 1976. Place of birth: Hermannstadt/Sibiu

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