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