In_________, we study the behavior of individual economic agents in the markets for different goods and services. Which of the following options suits best in the above blank?
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Classical economics Microeconomics Macroeconomics Modern economics |
Microeconomics |
The correct answer is Option 2: Microeconomics In microeconomics, we study the behavior of individual economic agents in the markets for different goods and services and try to figure out how prices and quantities of goods and services are determined through the interaction of individuals in these markets. Whereas, macroeconomics is the study of the economy as whole. |