What type of economics studies the economic behaviour of individual decision makers as well as the determination of price and output in specific markets?
A) microeconomics
B) macroeconomics
C) positive economics
D) normative economics

Question

What type of economics studies the economic behaviour of individual decision makers as well as the determination of price and output in specific markets?  
A) microeconomics 
B) macroeconomics 
C) positive economics 
D) normative economics

Quizplus · Accepted Answer

Microeconomics focuses on the behavior of individual decision makers, such as consumers and firms, and how they interact in specific markets to determine prices and outputs. Macroeconomics, on the other hand, studies the overall performance of the economy as a whole, including factors such as inflation, unemployment, and economic growth. Positive economics refers to the objective study of economic phenomena, while normative economics involves making value judgments about how the economy should function.

What Type of Economics Studies the Economic Behaviour of Individual