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1 year ago

Microeconomics is the study of: __________

Business

1 answer:

Kitty [74]1 year ago

3 0

Microeconomics is the study of <u>the decisions made by individuals</u>.

Microeconomics is the study of individuals, households and firms behavior in decision making and allocation of resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets.

In the economy, microeconomics applies to markets of goods and services and deals with individual and economic issues. Microeconomics is important as it provides the required tools that enable the formulation of various economic policies.

Individual income and savings, consumer equilibrium, are examples of microeconomics.

Hence, microeconomics is the study of the decisions made by individuals in the economy.

To learn more about Microeconomics here:

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