Study of an industry is an example of :

Micro Economics

The correct answer is option (1) : Micro Economics

The study of an industry typically falls under the domain of Micro Economics. Microeconomics focuses on the behavior of individual agents within the economy, such as households, firms, and industries. It examines how these agents make decisions regarding the allocation of resources and how their interactions in markets determine prices and quantities of goods and services.

Macro Economics : Macroeconomics is the study of the economy as a whole. It looks at the broader aspects of economics, such as overall economic output (GDP), inflation, unemployment, and national income. It deals with the aggregate behaviour of the entire economy, rather than specific industries or markets.

Welfare Economics : Welfare economics is a branch of economics that focuses on evaluating and improving the well-being of society. It deals with issues related to the distribution of resources and the efficiency of resource allocation. Welfare  economics aims to determine how resources can be distributed to maximize overall social welfare and often involves the analysis of policies and their impact on individual and societal welfare.

Environmental Economics : Environmental economics is the study of how economic principles can be applied to environmental issues. It examines topics like the optimal use of natural resources, externalities (such as pollution), and the design of policies  and incentives to address environmental problems/ Environmental economics assesses how economic decisions affect the environment and seeks to provide solutions for sustainable resource management.