Which of the following is an example of a variable under microeconomics?
Answer & explanation
Correct answer: option 3
The correct answer is Option 3: Market demand
Market demand is an example of a variable under microeconomics. Microeconomics focuses on individual markets and the behaviors of consumers and firms within those markets, including factors like market demand, prices, and production.
National income, aggregate demand, and wholesale prices are associated with macroeconomics, which looks at the economy as a whole.