What is typically included in the study of microeconomics?

The study of microeconomics primarily focuses on the behavior of individual consumers and firms, examining how they make decisions regarding resource allocation, pricing, and consumption. By analyzing individual consumer behavior and decision-making, microeconomics seeks to understand how various factors, such as preferences, income, and prices, influence the choices made by consumers and businesses. This level of analysis contributes to insights regarding supply and demand for specific goods and services, optimizing production strategies, and ultimately influencing market equilibrium.

In contrast, the other options deal with broader economic concepts. National economic trends and policies pertain to macroeconomics, which examines the economy as a whole rather than individual components. Global market analysis also typically falls under the domain of macroeconomics, as it often involves looking at international trade and economic relationships. Lastly, monetary policy impacts on inflation relate to the actions taken by central banks and their effects on the economy at a larger scale, which again is a macroeconomic perspective.