What is the term for systems of thought that analyze individual economic actions?

The term that refers to systems of thought analyzing individual economic actions is micro-economics. This branch of economics focuses on the decision-making processes of individuals and firms and how these decisions affect the supply and demand for goods and services. Micro-economics examines factors such as consumer behavior, production cost, pricing strategies, and the dynamics within specific markets. By studying the smaller units of the economy, such as households and businesses, micro-economics helps explain how individual actions can influence the overall economic environment.

In contrast, macro-economics deals with larger scale economic factors such as national income, overall employment levels, inflation, and economic growth, which do not focus on individual actions. Behavioral economics incorporates psychological insights into economic decision-making but does not specifically center on the analysis of individual economic actions in the same structured way. Asset economics is not a recognized category within traditional economic frameworks and does not specifically pertain to the individual actions that micro-economics analyzes. This distinction firmly places micro-economics as the correct answer to the question provided.