The study of microeconomic theory focuses on
A)individual behavior in the economy
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 primarily examines the behavior of individuals, households, and firms in the economy, and how they make decisions regarding the allocation of resources. It looks into the interactions between supply and demand, pricing, and market efficiency. It is concerned with specific economic agents and their decisions rather than the economy as a whole.

The Study of Microeconomic Theory Focuses on