Question

Which of the following statements best describes microeconomics?



A. study of the interactions between various countries and their producers and consumers



B. study of markets, resources, and productivity


C. study of a nation's economy and economic well-being


D. study of how producers and consumers interact in various markets

Answer 1

D. study of how producers and consumers interact in various markets

Microeconomics is the study of economics at an individual, group or company level. It involves the study of the behavior of individuals and firms in making decisions regarding the allocation of scarce resources