• The field of economics that studies the decisions of individuals and firms is called c. microeconomics.

The field of microeconomics deals with economic factors and decisions associated with individuals, firms and industries. It may take into account factors such as demand, supply, marginal revenue, marginal cost and income. On the other hand, the field of macroeconomics deals with the economic factors and decisions related to a given overall economy. These factors may be unemployment, interest rate, money supply, aggregated demand, fiscal policy, monetary policy, economic boom or economic recession.