Question

Microeconomics concentrates on which of the following? Select all that apply.

Select all that apply:

Unemployment rates

Firms

Household debt management plans

Individuals who are unemployed

Answer 1

MIcroeconomics is the study of individuals, households and firms' behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.MIcroeconomics concentrates on the behavior of individual consumers and firms.

Microeconomics stands in contrast to macroeconomics, which involves "the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues

If mAcroeconomics looks at the economy as a whole, it focuses on unemployed people.