______ is defined as the study of behavior of individual decision-making units, such as consumers, resource owners and firms.

Options

A. Microeconomics
B. Macroeconomics
C. Health economics
D. Econometrics

Answer

A

Explanation

Microeconomics is a branch of economics that studies the behaviour of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Macroeconomics is the branch of economics that studies the behaviour and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation.