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What is a current event that is an example of microeconomics?

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A current event that provides an example of microeconomics could be the Apple Company’s introduction of the latest version of its iPhone, the iPhone 8. Microeconomics, in contrast to macroeconomics, which involves national-level developments, involves economic activity that occurs at the personal level or at the individual company level.

Every couple of years, cell phone manufacturers introduce newer versions of their products, each more technologically advanced than the previous model. There is usually a great deal of fanfare involved, including television, radio, and magazine/newspaper advertisements touting the benefits of upgrading from one’s current phone to the newer model. Apple set the standard for the introduction of new products with its famous “1984”-themed television advertisement introducing the Macintosh computer. While its product “roll-outs” no longer attract as much attention as in the past (i.e., during the Steve Jobs era), the introduction of a new model...

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