Microeconomics is best described as the study of
A) the choices made by individual households, firms, and governments.
B) inflation, unemployment, gross national product, and the nation's economy as a whole.
C) how markets interact in the aggregate economy.
D) marginal changes in the economy.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the decisions made by individuals, households, and firms, and how these decisions affect the allocation and distribution of resources. Choices B, C, and D are more related to macroeconomics, which looks at the economy as a whole.

Microeconomics Is Best Described as the Study of