Microeconomics is:

Question

Microeconomics is:

BlackTom AI · Accepted Answer

To begin evaluating the options, we first recall what microeconomics focuses on as a field.
Option a suggests microeconomics studies international poverty. While poverty can be analyzed within microeconomics, this is not the primary scope of microeconomics; it is more closely associated with macroeconomics or development economics, which examine broad issues affecting the economy or nations.
Option b claims microeconomics studies decision-making for the economy as a whole. That description aligns more with macroeconomics, which analyzes aggregate indicators like GDP, inflation, and unemployment, rather than the behavior of individual agents.
Option c states microeconomics studies trading relationships. While trade can involve microeconomic analysis at the level of supply, demand, and firm behavior, the broader and more precise wording of this option misses the explicit emphasis on individuals, households, and firms making decisions within specific markets, which is central to microeconomics.
Option d defines microeconomics as the branch of economics that studies decision-making by individuals, households, and firms in a specific industry sector or market. This captures the core idea: microeconomics examines how these decision-makers allocate scarce resources, respond to prices, and interact within particular markets, industries, or sectors, rather than the economy as a whole or broad international issues.
In summary, while the other options touch on economic topics, they either mischaracterize the scope (macro vs. micro), overly narrow or broad the focus, or mix topics in a way that does not align with the standard definition of microeconomics. The wording in option d aligns exactly with the standard description of microeconomics as the study of individual agents and their decision processes within markets.

MUF0061 Economics Unit 1 - Semester 2, 2025

Microeconomics is:

查看解析

登录即可查看完整答案

类似问题

Read the following statements and determine whether they are true or false. 1: Microeconomics is the study of the allocation of scarce resources. 2: Market is an exchange mechanism that allows buyers to trade with sellers.

Which of the following is a microeconomic topic?

Which discipline studies the decision-making process of customers, workers, households, and business firms on an individual basis rather than as aggregates? BlackTom题目解析

Microeconomics builds an understanding of:

Macroeconomic topics do not usually include:

A friend of yours has an interview with an economics consulting firm and has been asked to discuss a microeconomics topic. Which of the following topics would you recommend that your friend discuss?

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单

MUF0061 Economics Unit 1 - Semester 2, 2025

Microeconomics is:

查看解析

登录即可查看完整答案

类似问题

Read the following statements and determine whether they are true or false. 1: Microeconomics is the study of the allocation of scarce resources. ____ 2: Market is an exchange mechanism that allows buyers to trade with sellers. ____

Which of the following is a microeconomic topic?

Which discipline studies the decision-making process of customers, workers, households, and business firms on an individual basis rather than as aggregates? BlackTom题目解析

Microeconomics builds an understanding of:

Macroeconomic topics do not usually include:

A friend of yours has an interview with an economics consulting firm and has been asked to discuss a microeconomics topic. Which of the following topics would you recommend that your friend discuss?

更多留学生实用工具

希望你的学习变得更简单

Read the following statements and determine whether they are true or false. 1: Microeconomics is the study of the allocation of scarce resources. 2: Market is an exchange mechanism that allows buyers to trade with sellers.