Which of the following is not a microe-conomic subject matter?a)The pr...
Subject Matter of Microeconomics
Microeconomics is the study of individual economic behavior and decision-making. It focuses on how individuals, households, and firms make decisions about the allocation of resources. The following are some of the subject matters that come under the scope of microeconomics:
- Demand and Supply: Microeconomics studies the behavior of buyers and sellers in the market and how the interaction between them determines the price and quantity of goods and services.
- Production and Costs: Microeconomics also examines how firms produce goods and services and the costs involved in the production process.
- Market Structures: Microeconomics analyzes the different types of market structures, such as perfect competition, monopolistic competition, oligopoly, and monopoly, and their effects on prices and output levels.
- Consumer Behavior: Microeconomics studies the behavior of consumers, their preferences, and the factors that influence their decision-making.
- Factor Markets: Microeconomics also examines the markets for factors of production, such as labor and capital, and how they determine the prices and quantities of these resources.
Answer
Out of the given options, the national economy's annual rate of growth (option D) is not a microeconomic subject matter. It belongs to the field of macroeconomics, which studies the behavior of the whole economy, including issues such as inflation, unemployment, economic growth, and monetary and fiscal policies.
Conclusion
Microeconomics is an essential branch of economics that studies the behavior of individual economic agents and their decision-making. It deals with the allocation of resources at the micro level, such as households, individuals, and firms. In contrast, macroeconomics studies the overall performance of the economy, including issues such as economic growth, inflation, and unemployment.
Which of the following is not a microe-conomic subject matter?a)The pr...
It's Answer is D option because micro means "small", microeconomics deals with the individual part of an economy not for the whole economy.
The National Economy is the subject matter of Macroeconomics.
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