The study of the decisions of individual units in the economy is known as

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Microeconomics focuses on the decision-making of individual units in the economy, such as households and firms, while macroeconomics analyzes the economy as a whole. Ceteris paribus is a Latin phrase meaning "all other things held constant", which is often used in economic analysis to isolate the effects of a particular variable. The study of incentives is a concept that applies to both macro and microeconomics, but it is not the specific field of study for either.

The Study of the Decisions of Individual Units in the Economy