Asked by Mariah Rodriguez on Jul 02, 2024
Verified
The branch of economics that examines the functioning of individual industries and the behavior of individual decision-making units is
A) positive economics.
B) normative economics.
C) macroeconomics.
D) microeconomics.
Microeconomics
The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, market equilibriums, and the effect of government regulations.
Individual Industries
Specific sectors of the economy focused on the production of certain types of goods or services.
Decision-Making Units
Groups or individuals within an organization that have the authority and responsibility to make choices that affect organizational outcomes.
- Contrast microeconomics with macroeconomics, highlighting the differences in their study areas and the inquiries they pursue.
Verified Answer
Learning Objectives
- Contrast microeconomics with macroeconomics, highlighting the differences in their study areas and the inquiries they pursue.
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