Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Introduction

Question:

In_________, we study the behavior of individual economic agents in the markets for different goods and services.

Which of the following options suits best in the above blank?

 

Options:

Classical economics

Microeconomics

Macroeconomics

Modern economics

Correct Answer:

Microeconomics

Explanation:

The correct answer is Option 2: Microeconomics

In microeconomics, we study the behavior of individual economic agents in the markets for different goods and services and try to figure out how prices and quantities of goods and services are determined through the interaction of individuals in these markets. Whereas, macroeconomics is the study of the economy as whole.