Option 1 -> Markets study the interaction between buyers and sellers, not individual decision-making.
Option 2 -> Macroeconomics examines aggregate economic phenomena like GDP, inflation, and unemployment.
Option 3 -> Microeconomics focuses on individual economic agents' behavior and decision-making.
Option 4 -> Administration deals with management and organizational processes, not economic theory.
Hence, Option 3: Microeconomics -> Microeconomics is the branch of economics that studies the decision-making behavior of individual economic agents such as consumers, households, firms, and workers. It analyzes how these agents make choices regarding resource allocation, consumption, production, and pricing under conditions of scarcity. Unlike macroeconomics which looks at the economy as a whole, microeconomics examines individual units and their interactions in specific markets -> correct