Studying the determination of prices in individual markets is primarily a concern of

Question

Quizplus · Accepted Answer

The determination of prices in individual markets is a key topic in microeconomics, which focuses on the behavior of individuals and firms in smaller, specific markets rather than the overall economy. Negative economics looks at the costs and losses of a particular decision, while positive economics examines how economic activity actually operates in practice. Macroeconomics, on the other hand, focuses on broader indicators and trends of the economy as a whole rather than individual markets.

Studying the Determination of Prices in Individual Markets Is Primarily