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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?
- Behavioral economics
- Microeconomics (correct)
- Macroeconomics
- Development economics
What does microeconomics focus on studying?
What does microeconomics focus on studying?
- Macroeconomic policies
- Market mechanisms
- National economy
- Individual markets (correct)
What is one goal of microeconomics?
What is one goal of microeconomics?
- Analyze market failure
- Establish relative prices (correct)
- Study national policies
- Analyze economic growth
What does macroeconomics focus on studying?
What does macroeconomics focus on studying?
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What does microeconomics analyze when markets fail to produce efficient results?
What does microeconomics analyze when markets fail to produce efficient results?
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