Asked by steven remmenga on May 27, 2024
Verified
Microeconomics:
A) is the basis for the "after this,therefore because of this" fallacy.
B) is not concerned with details,but only with the overall big picture of the economy.
C) is concerned with individual economic units and specific markets.
D) describes the aggregate flows of output and income.
Microeconomics
The study of economic behavior and decision-making in small units, such as households and firms.
Economic Units
Entities or groups, such as households, firms, or governments, that make economic decisions regarding consumption, production, and investment.
Specific Markets
Markets that are defined or specialized based on the particular goods or services they trade, such as technology markets, agricultural markets, or financial markets.
- Discern between the disciplines of microeconomics and macroeconomics, including their unique study territories.
Verified Answer
MB
Moniza BorgesJun 01, 2024
Final Answer :
C
Explanation :
Microeconomics deals with individual economic units and specific markets like demand and supply, consumer behavior, production theory, market structure, and pricing policies. It is concerned with analyzing and understanding the behavior of small economic agents like individuals, households, or firms, rather than the entire economy as a whole.
Learning Objectives
- Discern between the disciplines of microeconomics and macroeconomics, including their unique study territories.