Microeconomics Is the Study of

question 408

Multiple Choice

Microeconomics is the study of

• A) the choices that individuals and businesses make.
• B) all aspects of scarcity.
• C) the global economy.
• D) the national economy.

---

Definitions:

International Market

A market that extends beyond national borders, involving the trading of goods, services, and resources on a global scale.

Competition Analysis

The practice of identifying, assessing, and analyzing competitors to understand their strengths, weaknesses, strategies, and potential impact on your business.

Florist Shop

A retail outlet specializing in selling flowers and related products, often including the arrangement and delivery of floral bouquets.

Competition

Competition in business refers to the rivalry among companies operating in the same industry for market share, customers, and profits by offering better products, prices, or services.