Microeconomics can be described as the study of how individuals or groups make choices with their limited resources (e.g. money, time, energy, etc.) in order to satisfy unlimited wants (e.g. travels, cars, education, etc.). In this course we will examine how individuals, businesses and governments make these decisions. Specifically, we will be using microeconomics theories to explain the production and prices of goods and services in individual markets. Different market structures will be considered as well as the economic implications of the different market structures and government policy.