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Microeconomics is different from macroeconomic s as
- a)Microeconomics deals with prices only
- b)Microeconomics deals with government’s decisions
- c)Microeconomics deals with economic behaviour
- d)Microeconomics deals with individual behaviour
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Microeconomics is different from macroeconomic s asa)Microeconomics de...
Policies and their impact on the economyc)Microeconomics focuses on individual and small group behavior and decision-making related to the allocation of resourcesd)Microeconomics focuses on overall economic indicators such as GDP and inflation rates.
Answer: c) Microeconomics focuses on individual and small group behavior and decision-making related to the allocation of resources.
Explanation: Microeconomics is a branch of economics that examines the behavior of individuals and firms in making decisions regarding the allocation of scarce resources. It focuses on the study of small economic units such as individuals, households, and firms. In contrast, macroeconomics deals with the overall performance of the economy and its key indicators such as GDP, inflation, and unemployment.
Answer: c) Microeconomics focuses on individual and small group behavior and decision-making related to the allocation of resources.
Explanation: Microeconomics is a branch of economics that examines the behavior of individuals and firms in making decisions regarding the allocation of scarce resources. It focuses on the study of small economic units such as individuals, households, and firms. In contrast, macroeconomics deals with the overall performance of the economy and its key indicators such as GDP, inflation, and unemployment.
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Microeconomics is different from macroeconomic s asa)Microeconomics de...
The correct answer is D: Microeconomics deals with individual behavior.
Microeconomics is the study of how households and firms make decisions, and how they interact in markets. It focuses on the behavior of individual economic agents, such as consumers, firms, and industries. Microeconomics is concerned with the allocation of resources at the micro level, such as how households and firms decide what to produce, how much to produce, and at what price to sell their products.
Macroeconomics, on the other hand, is the study of the economy as a whole. It focuses on the behavior of aggregate variables, such as GDP, unemployment, and inflation, and how they are affected by economic policies. Macroeconomics is concerned with the overall performance of the economy and the interrelationships among the various sectors of the economy.
Microeconomics does not only deal with prices, and it is not only concerned with government decisions. While government policies can affect the behavior of individual economic agents, microeconomics also considers other factors that influence their decision-making, such as technology, tastes, and preferences.
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Microeconomics is different from macroeconomic s asa)Microeconomics deals with prices onlyb)Microeconomics deals with government’s decisionsc)Microeconomics deals with economic behaviourd)Microeconomics deals with individual behaviourCorrect answer is option 'D'. Can you explain this answer?
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