BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

BUSINESS ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ is the study of the behavior of individual players in an economy, such as individuals, families, and businesses. ____ is the study of the behavior of the economy as whole and involves topics such as inflation, unemployment, aggregate demand, and aggregate supply.
A
Macroeconomics; Microeconomics
B
Microeconomics; Macroeconomics
C
Positive Economics; Normative Economics
D
Normative Economics; Positive Economics
Explanation: 

Detailed explanation-1: -Microeconomics studies the decisions of individuals and firms to allocate resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets but leaves the study of economy-wide aggregates to macroeconomics.

Detailed explanation-2: -Definition: Microeconomics is the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.

Detailed explanation-3: -Microeconomics. The study of the behavior of individual players in an economy such as families and businesses.

Detailed explanation-4: -There is big-picture macroeconomics, which is concerned with how the overall economy works. It studies such things as employment, gross domestic product, and inflation-the stuff of news stories and government policy debates.

Detailed explanation-5: -The study of economics at an individual level is Microeconomics.

There is 1 question to complete.
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