Studying the effects choices have on the individual markets within the economy is part of
A) scarcity.
B) microeconomics.
C) macroeconomics.
D) incentives.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, labor and management, or the impact of a specific policy on a particular market. It examines how these behaviors and decisions affect the supply and demand for goods and services, which determines prices and how resources are allocated in an economy.

Studying the Effects Choices Have on the Individual Markets Within