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The study of ...

Question

The study of the behaviour of firms, individual markets, and household is called ___________.

A

national economics

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B

positive economics

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C

macroeconomics

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D

microeconomics

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Solution

The correct option is D microeconomics
Microeconomics
1. It is that part of economics which deals with the individual units of the economy.
2. It takes into account the demand and supply of individual units.
3. It aims to determine the price of a product using the factors of production.
4. Example: Individual income and Individual output.

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