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Questions and Answers
What is the focus of microeconomics?
What is the focus of microeconomics?
- Global economic policies
- Individual economic agents and markets (correct)
- Macroeconomic indicators
- Historical economic trends
Which of the following is a microeconomic concept?
Which of the following is a microeconomic concept?
- Fiscal policy
- Gross domestic product (GDP)
- Supply and demand (correct)
- Inflation rate
What does microeconomics study in relation to pricing decisions?
What does microeconomics study in relation to pricing decisions?
- How overall price levels impact consumer behavior
- How individual firms set prices based on costs and market demand (correct)
- How government policies influence price levels
- How international trade affects price stability
