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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)
- Development economics
- Macroeconomics
- Behavioral economics
What is the focus of microeconomics?
What is the focus of microeconomics?
- National economy
- Global economy
- Individual markets (correct)
- Government policies
What is one goal of microeconomics?
What is one goal of microeconomics?
- Analyze national policies (correct)
- Study market failures
- Analyze global markets
- Predict economic growth
What does macroeconomics focus on?
What does macroeconomics focus on?
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What does microeconomics analyze?
What does microeconomics analyze?
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