Final answer:
Microeconomics focuses on individual agents within the economy such as households and businesses, and how their interactions in specific markets determine prices and quantities. It is distinctly different from macroeconomics, which looks at the economy as a whole. The correct answer is that microeconomics is concerned with some specific market in the economic system.
Thus the corret opction is:1
Step-by-step explanation:
Microeconomics is concerned with the study of individual agents within the economy, such as households, workers, and businesses.
It focuses specifically on how these agents make decisions, how they interact within specific markets, and how prices are determined.
This contrasts with macroeconomics, which examines the economy as a whole, focusing on broad issues like growth of production, levels of unemployment, inflation rates, government deficits, and international trade balances.
Therefore, the answer to the question, "Microeconomics is concerned with?" would be (1) some specific market in the economic system.
Microeconomics examines how individual behaviors and choices affect supply and demand in specific markets, how prices and quantities are decided, and how resources are allocated.