| Defines the basic concepts of microeconomics, including scarcity, opportunity cost, supply, demand, and market equilibrium. |
| Explains consumer and producer behavior by analyzing utility, production, and cost concepts within different market conditions. |
| Analyzes consumer and producer behavior using basic microeconomic models and interprets how these behaviors influence market outcomes. |
| Compares different market structures (perfect competition, monopoly, monopolistic competition, oligopoly) and evaluates their efficiency in resource allocation. |