The basic concern of microeconomics is:
A)to keep business firms from losing money.
B)to prove that capitalism is better than socialism.
C)to study the choices people make.
D)to use unlimited resources to produce goods and services to satisfy limited wants.

Question

Quizplus · Accepted Answer

Microeconomics is concerned with the study of individual economic agents, such as consumers, producers, and markets. It focuses on the choices people make, including how they allocate their resources (time, money, etc.) to maximize their satisfaction or profits. Options A and B are not accurate descriptions of the basic concern of microeconomics, while option D describes the opposite of what microeconomics aims to achieve.

The Basic Concern of Microeconomics Is