Question

Microeconomics is best described as the study of the choices made by individual households, firms, and governments. inflation, unemployment, gross national product, and the nation's economy as a whole. how markets interact in the aggregate economy. marginal changes in the economy.

Answer 1

the study of the choices made by individual households, firms, and governments.

Step-by-step explanation:

Microeconomics refers to the study of the choices with respect to individuals, households, firms, governments in order to make the decision and the resources to be allocated in an efficient and effective manner

It also focused to maximise the production of the company so that the company could able to accomplish its sales by offering a lower price so that it also competes in the industry

Hence, the first option is correct