Microeconomics is not concerned with the behavior of ?
Correct answer: A. aggregate demand
- A. aggregate demand
- B. firms
- C. Consumers
- D. industries.
Explanation
Microeconomics studies individual consumers, firms, and particular industries or markets. Aggregate demand concerns the economy as a whole and is therefore mainly a macroeconomic concept.
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About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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