Micro

the area of economics that deals with behavior and decision making by small units

when the quantity demanded decreases as the price increases

the quantity of goods supplied is equal to the quantity demanded

Which of the following is a part of microeconomics?

• explaining why the price of rice has fallen

• explaining why people are unemployed

• measuring price growth in the economy

• measuring the GDP of a nation

What term deals with the study of specific components within a major economy?

When we study economics on a smaller level, like households and businesses, this is considered __________.

The branch of economics that looks at the small scale, focusing on individual interactions.

• Micromachines

• Macaroni-onomics

• Macroeconomics

• Microeconomics

The study of the economic behavior of individual persons, families, and businesses is known as​ (a)   .

• microeconomics

• macroeconomics

• production possibilities curves

• Ubernomics

Which of the following is a key focus of microeconomics?

• A) National unemployment rates

• B) Inflation trends

• C) Individual consumer behavior

• D) Global trade policies

Microeconomics primarily examines which of the following?

• A) The entire economy

• B) Individual markets

• C) International trade

• D) Government policies