Microeconomics is the study of broad, economy-wide issues such as the unemployment rate, gross domestic product, and inflation.

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Microeconomics is the study of individual economic agents such as households, businesses, and markets, and how they interact to make economic decisions. It focuses on specific economic issues such as supply and demand, prices, and the behavior of individual consumers and firms. The study of broad, economy-wide issues is called macroeconomics.

Microeconomics Is the Study of Broad, Economy-Wide Issues Such as the Unemployment