Microeconomics includes the study of
A)the overall amount of production within the economy.
B)how countries decide to fund their budget deficits.
C)the effect on the national economy of the choices that individuals make.
D)how a nation promotes economic growth.
E)the choices that individuals and businesses make.

Question

Quizplus · Accepted Answer

Microeconomics is the study of individual economic behavior and the choices made by consumers, firms, and producers. It examines how individuals and businesses make decisions regarding the allocation of scarce resources, such as goods, services, and financial assets. This includes topics such as supply and demand, market structures, pricing, and the factors that influence consumer and producer choices. It does not focus on overall economic production, national economies, or funding deficits, which are the domains of macroeconomics.

Microeconomics Includes the Study of