Share This Article:

Economic Definition of micro goals. Defined.

Offline Version: PDF

Term micro goals Definition: The two goals of a mixed economy that are most relevant to the study of microeconomics are efficiency and equity. Efficiency is obtaining the most possible satisfaction of wants and needs from a given amount of resources. Equity is the "fairness" with which income and wealth are distributed. Of course, what is "fair" is not obvious.


« MFC | microeconomic policy »


Alphabetical Reference to Over 2,000 Economic Terms