Which of the following examples describes microeconomics? A. Germany is a country in Western Europe. B. The Federal Reserve is increasing interest rates. C. People prefer buying iPhones over Nokia phones. D. The Yukon territory of Canada has extreme cold weather.

The correct answer is C. People prefer buying iPhones over Nokia phones.<br /><br />Microeconomics is the study of individual economic units, such as households and firms, and their decision-making processes. It focuses on the behavior of consumers and firms, and how they. Option C describes a preference of consumers, which is a topic studied in microeconomics. The other options do not relate to the study of individual economic units or their decision-making processes.