Which of the following statements is true of microeconomics?
A)It includes the monitoring of national, regional, and global economies.
B)It primarily focuses on smaller economic units.
C)It is the study of a country's overall economic dynamics.
D)It excludes the study of families.

Question

Quizplus · Accepted Answer

Microeconomics primarily focuses on studying smaller economic units, such as individuals, households, and businesses. It does not focus on the overall functioning of a country's economy or the monitoring of national, regional, or global economies. However, microeconomics does consider the behavior of families as a part of its study on individual economic units.

Which of the Following Statements Is True of Microeconomics