The mechanism of supply and demand is
A)a fundamental tool in both microeconomics and macroeconomics.
B)the only real "law" of economics.
C)a fundamental tool only in microeconomics.
D)a fundamental tool only in macroeconomics.

Question

Quizplus · Accepted Answer

The mechanism of supply and demand is a fundamental tool in both microeconomics and macroeconomics. It is important in microeconomics because it helps to explain how individual markets function, while in macroeconomics, it helps to explain how the economy as a whole works. Thus, option A is the correct choice.

The Mechanism of Supply and Demand Is