Understanding Microeconomics for Small Businesses Running a small business isn’t just about passion – it’s about making smart, data-driven decisions. In this blog, discover how core microeconomic concepts like demand and supply, opportunity cost, and price elasticity can help you set competitive prices, optimize costs, and build a sustainable business. Perfect for entrepreneurs, freelancers, and small business owners looking to thrive in competitive markets.

When Tara’s candle business hit a wall, it wasn’t marketing or creativity that turned things around — it was economics. From opportunity cost to sunk cost, learn how basic economic thinking helped her make smarter decisions, raise profits, and rediscover confidence as a business owner. A must-read for entrepreneurs who want to combine passion with profit.

Most entrepreneurs focus on marketing and tech — but real growth often comes from understanding economics. Learn how core concepts like elasticity and opportunity cost can help you make smarter business decisions.