The economic behavior of individual decision makers and the determination of price and output in specific markets are both studied in:
A)disequilibrium economics.
B)normative economics.
C)positive economics.
D)microeconomics.
E)macroeconomics.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the behavior of individual decision makers and the determination of price and output in specific markets. Disequilibrium economics and normative economics are not specific branches of economics, but rather ideas or concepts within economics. Positive economics is a broader branch that analyzes how the economy actually works, including microeconomics. Macroeconomics is a branch that analyzes the economy as a whole, rather than individual markets.

The Economic Behavior of Individual Decision Makers and the Determination