The study of microeconomic theory focuses on the
A)Structure and performance of individual markets and the operation of the price system.
B)Operation of the entire economy.
C)Role of the banking system in the economy.
D)Interaction of international trade and domestic production of goods and services.

Question

Quizplus · Accepted Answer

Microeconomic theory studies the behavior of individual economic units such as consumers, firms, and markets. It analyzes how these units interact with each other and how the price system operates in different markets. It does not focus on the entire economy, the banking system, or international trade.

The Study of Microeconomic Theory Focuses on the