ECONOMICS (CBSE/UGC NET)

ECONOMICS

TECHNOLOGY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The study of economic behavior and decision making of small units, such as individuals, families, and business
A
macroeconomics
B
technology
C
microeconomics
D
gross domestic product
Explanation: 

Detailed explanation-1: -Economics: the study of how individuals, families, businesses, and societies use limited resources to fulfill their unlimited wants.

Detailed explanation-2: -Microeconomics is based on models of consumers or firms (which economists call agents) that make decisions about what to buy, sell, or produce-with the assumption that those decisions result in perfect market clearing (demand equals supply) and other ideal conditions.

Detailed explanation-3: -Behavioral Economics is the study of psychology as it relates to the economic decision-making processes of individuals and institutions.

Detailed explanation-4: -Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

There is 1 question to complete.