Master the Fundamentals of Microeconomics
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Questions and Answers

Which characteristic of microeconomics distinguishes it from macroeconomics?

  • Microeconomics looks at the decision of individual units
  • Microeconomics is concerned with social welfare
  • Microeconomics has limited focus (correct)
  • Microeconomics often called price theory

    • What is another name for microeconomics?

  • Macroeconomics
  • Social welfare economics
  • Decision theory
  • Price theory (correct)

    • What skills does microeconomics help develop?

  • Artistic skills
  • Public speaking skills
  • Critical thinking skills (correct)
  • Physical fitness skills

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