The idle mixture adjustment screw on a carburetor controls the amount of fuel mixed with the air at idle speed. Adjusting the idle mixture screw allows controlling the air/fuel ratio for optimal engine performance and emissions. Typically, turning the screw clockwise leans out the mixture (reduces fuel flow), while turning it counterclockwise enriches the mixture (increases fuel flow). The correct adjustment is the one that results in the smoothest idle speed, without any hesitation or surging.
However, it's important to note that the idle mixture screw affects only the air/fuel mixture at idle speed, and does not have a significant impact on overall fuel economy or performance. For more substantial adjustments to fuel flow, other means, such as changing the main jet size, may be necessary.