How do individuals, in an attempt to maximize their own self-interest, create a set of economic institutions that structure their daily lives is a question for
A) macroeconomics
B) fiscal policy economics
C) microeconomics

Question

Quizplus · Accepted Answer

The study of microeconomics focuses on the behavior of individuals, households, and firms in making decisions about the allocation of scarce resources. In order to maximize their own self-interest, individuals create and participate in economic institutions such as markets, businesses, and financial systems that structure their daily lives. Therefore, the question is best addressed by the principles of microeconomics.

How Do Individuals, in an Attempt to Maximize Their Own