Microeconomics is one of the main fields of the social science of economics. It considers the behaviour of individual consumers, firms and industries. Microeconomics is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the supply and demand of goods and services. Microeconomics has been called “the bottom-up view of the economy”, or “how people deal with money, time, and resources.”