local economy :
... the smallest economic structure that guides the output (production) and input (consumption) of goods and services of a singles community, taking into account the surrounding area. In essence, it's the smallest area economy given that the community is dominant as the commercial center. The outlying area can be viewed as a shed that accommodates an inward flow to the community. Otherwise, the seeing the extent of the area may be difficult as it blends into that of a contiguous local economy. Studying layouts of roads and waterways as well recognizing certain geographic features help define an area.
See the Wikipedia definition of economic system for a comment on structure in general.
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definition of microeconomy:
A term of the Enterprise and Economic Development Glossary having an implied meaning that simply identifies the smallest of economic structures. The definition has no relationship to that of microeconomics. Copy and paste the following italicized text lines, keeping quotation marks intact, to search the Web for explanations of microeconomics.
| definition of microeconomics |
| "what are microeconomics" |
| microeconomics "economic development" |
| what is a micro economy |
| what is a microeconomy |
| definition of microeconomy "economic development" |
| definition of "macro economy" |
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