Question

what is microeconomics? question 19 options: it puts the focus on individuals, companies, and industries. it puts the focus on small-scale industries. it puts the focus on individual country level economics. it puts the focus on how smaller companies operate.

Answer 1

Microeconomics is the social science that studies the implications of incentives and decisions, specifically about how those affect the utilization and distribution of resources. Microeconomics shows how and why different goods have different values, how individuals and businesses conduct and benefit from efficient production and exchange, and how individuals best coordinate and cooperate with one another. Generally speaking, microeconomics provides a more complete and detailed understanding than macroeconomics.