Microeconomics is all about the choices we make every day and how those choices affect the world around us.

It focuses on some key ideas, like:

• Supply and Demand: This is all about why prices go up and down.
• Consumer Behavior: This helps us understand why we buy certain things.
• Market Structures: This looks at different types of competition, like small shops versus big companies.

For Year 7 students, learning about microeconomics is really important because it helps you understand:

• How you spend your money
• Ways to save money
• The basics of running a business one day

Knowing these ideas helps you understand the world better and get ready for decisions you'll have to make in real life!