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Microeconomics Quiz
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Microeconomics Quiz

Created by
@InsightfulWolf

Questions and Answers

Which branch of economics studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources?

  • Microeconomics (correct)
  • Behavioral economics
  • Macroeconomics
  • Development economics

    • What does microeconomics focus on studying?

  • Macroeconomic policies
  • Market mechanisms and resource allocation
  • The national economy as a whole
  • Individual markets, sectors, or industries (correct)

    • What is one goal of microeconomics?

  • Analyzing market mechanisms and resource allocation (correct)
  • Analyzing macroeconomic policies
  • Studying the national economy as a whole
  • Studying the behavior of individuals and firms

    • What does microeconomics analyze in addition to the conditions under which free markets lead to desirable allocations?

    <p>Market failure</p> Signup and view all the answers

    What does macroeconomics focus on studying?

    <p>The sum total of economic activity</p> Signup and view all the answers

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