Microeconomics approaches the study of economics from the viewpoint of:
A) inflation, unemployment, and economic growth.
B) the federal government.
C) individual economic units, such as consumers, firms, industries, and units of government.
D) the economy as a whole.

Question

Quizplus · Accepted Answer

Microeconomics focuses on individual economic units and how they make decisions about producing, consuming, and allocating resources. It is concerned with topics such as market structures, consumer behavior, and the behavior of firms. In contrast, macroeconomics focuses on the economy as a whole, including topics such as inflation, unemployment, and economic growth. Therefore, choice C is the best answer.

Microeconomics Approaches the Study of Economics from the Viewpoint Of