Question

Microeconomics is the study of the economic interactions between


producers and their suppliers.
Consumers and the government
Consumers and producers
Producers and the government

Answer 1

Microeconomics is primarily concerned with the study of the economic interactions between **consumers and producers**. It examines how consumers make decisions about purchasing goods and services, how producers make decisions about the production and pricing of goods and services, and how these interactions determine supply, demand, and pricing in individual markets.