The correct answer is <u>consumers and producers.
</u>
Further Explanation:
Microeconomics:
Microeconomics refers to the economic interactions between the consumers and the producers and on a small scale. Microeconomics is different from macroeconomics. Whereas macroeconomics deals with the economy as an aggregate but microeconomics examines an individual supply or individual demand. Microeconomics deals with the theory of consumer and firm theory and study about the decision of the people and the businesses.
Justification for the correct and incorrect answer:
Producers and their suppliers: This is an incorrect answer.
Microeconomics studies the behavior of both the consumer and the producer, not only the producers and their suppliers.
Consumers and the government: This is an incorrect answer.
Microeconomics studies the behavior of both the consumer and the producer, not only the consumers and the government.
Consumers and producers: This is the correct answer.
Microeconomics studies the behavior of both the consumer and the producer.
Producers and the government: This is an incorrect answer.
Microeconomics studies the behavior of both the consumer and the producer, not only the producers and the government.
Learn More:
1.Economics_elasiticity
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2. Demand and type of goods
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3. Monopolistic competition
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Answer Details:
Grade: High School
Chapter: Introduction to microeconomics
Subject: Microeconomics
Keywords:
Microeconomics is the study of the economic interactions between producers and their suppliers, consumers, and the government, consumers and producers, producers and the government.