BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Micro economics deals primarily with
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Comparative statics, general equilibrium and positive economics
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Comparative statics, partial equilibrium and normative economics
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Dynamics, partial equilibrium and positive economics
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Comparative statics, partial equilibrium and positive economics
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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: -Microeconomics is mainly concerned with the behaviour of decision takers like individuals, households or firms within an economy.
Detailed explanation-3: -Micro economics is primarily concerned with the time, path and process by which one equilibrium position evolves into another. Micro economics is primarily concerned with comparative statics rather than dynamics.
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