An economist could perform a microeconomic analysis on any market because microeconomic analysis is carried out for specific industries and businesses.

Let's take the car industry, for example. An economist could look at how the American car industry impacts all other parts of an economy and consumer decisions. The analysis might show how many people the car industry employs, how much revenue it generates, the imports/exports of cars into and out of a nation, etc. While the analysis might seem large and macroeconomic, it is only looking at one specific industry so it is considered microeconomic.

The purpose for analyzing a single market is seeing how profitable the market is. In this case, because the car industry is a staple in the U.S. economy, it is important to know if investment in the car industry is economically beneficial.