Intro to Microeconomics Feb 23

Economics is the study concerned with the production, distribution, and consumption of goods and

• services

• assets

• liabilities

• debts

The two main branches of economics are macroeconomics and

• microeconomics

• business

• trading

• finances

One area of microeconomics is about

• government debts

• individual markets

• job application

• renting a house

The approach used in studying microeconomics is

• Sideways approach

• top down approach

• bottoms up approach

• no approach

It is the price prevailing in a competitive market

• wholesale price

• sale price

• discounted price

• market price

It is the process of converting inputs to outputs

• Assessment

• Trading

• Production

• Selling

Microeconomics deals with individual choices and

• Behavior

• Income

• Asset

• Problem

A type of market where stocks are traded.

• Financial

• Auction

• Supermarket

• Black

A market structure with one company providing the goods and services.

• Monopoly

• Perfect Competition

• Oligopoly

• Monopolistic Competition

Price that is based on a defined year accounting for inflation.

• Real Price

• Exact Price

• Discounted Price

• Sale Price