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Microeconomics Quiz

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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

Microeconomics Quiz

Choose a study mode

Podcast

Questions and Answers

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

What does microeconomics focus on studying?

What is one goal of microeconomics?

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

What does macroeconomics focus on studying?

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