The behavior of people as they interact with one another in markets is referred to asa.social psychology.b.economics.c.demand and supply.d.interaction.

The correct answer to the question regarding the behavior of people as they interact with one another in markets is:

b. economics.

Explanation

Economics is the social science that studies how individuals, businesses, and governments make choices about allocating resources. One of the central focuses of economics is the interaction between buyers and sellers in markets. This involves understanding concepts such as the demand and supply of goods, market equilibrium, price formation, and how these factors influence consumer behavior and business decisions.

While aspects of social psychology can play a role in economic behavior—such as how social norms and peer influences affect decision-making—economics explicitly focuses on the interactions in markets. Demand and supply are specific economic concepts that describe how quantity demanded by consumers and quantity supplied by producers interact to determine market prices, but the broader study of these interactions falls under the umbrella of economics.

Thus, option (b) economics precisely captures the essence of the behavior of individuals as they interact in market settings.