What study examines small economic units such as individual consumers and businesses?

The question asks about the study that focuses on small economic units like individual consumers and businesses, which is precisely the domain of microeconomics. Microeconomics analyzes how these small entities make decisions regarding the allocation of resources, pricing, and consumption behaviors. It delves into the interactions between buyers and sellers in specific markets and considers how these interactions impact supply and demand dynamics.

In contrast, macroeconomics refers to the broader economic perspective, examining entire economies and large-scale factors such as national income, overall economic growth, inflation, and unemployment. While economics encompasses both micro and macro aspects, the definition in this question specifically points to microeconomics as it emphasizes the smaller scale of economic units. Behavioral economics, on the other hand, looks at the psychological factors that influence economic decision-making but is not exclusively focused on individual consumers or businesses. Therefore, the correct answer aptly identifies the area of economics concerned with small-scale economic dynamics.