Microeconomics analyzes individual parts of the economy rather than broad economic aggregates.

Question

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Microeconomics is concerned with examining the behavior of individuals, households, and firms, and how they interact in specific markets. It focuses on individual parts of the economy rather than broad economic aggregates such as gross domestic product (GDP), inflation, or unemployment, which are studied under macroeconomics.

Microeconomics Analyzes Individual Parts of the Economy Rather Than Broad