Microeconomics Quiz

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Questions and Answers

What is the main goal of microeconomics?

  • To analyze market failure
  • To analyze the market mechanisms that establish relative prices among goods and services (correct)
  • To analyze national policies relating to growth, inflation, and unemployment
  • To study the behavior of individuals and firms in making decisions

Which branch of economics focuses on the study of individual markets, sectors, or industries?

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

What is the main focus of macroeconomics?

  • To analyze national policies relating to growth, inflation, and unemployment (correct)
  • To analyze market failure
  • To analyze market mechanisms
  • To study individual markets, sectors, or industries

What does microeconomics analyze when markets fail to produce efficient results?

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

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

<p>Microeconomics (D)</p> Signup and view all the answers

What does macroeconomics deal with?

<p>National policies (A)</p> Signup and view all the answers

What is the main focus of microeconomics?

<p>Analyzing market mechanisms (B)</p> Signup and view all the answers

What does macroeconomics deal with?

<p>Dealing with issues of growth and inflation (B)</p> Signup and view all the answers

What does microeconomics analyze when markets fail to produce efficient results?

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

Which branch of economics focuses on the sum total of economic activity?

<p>Macroeconomics (D)</p> Signup and view all the answers

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