GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Microeconomics is a division of economics that deals with
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Monetary supply of an economy
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The aggregate demand
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The purchasing behaviour of consumers
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The inflation and unemployment
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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 deals with the study of individual variables like firms, workers, consumers, and investors on how they interact with each other and influence various factors in the market like price of a commodity.
Detailed explanation-3: -Hence, consumer behaviour is the point study of microeconomics.
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