Мікроекономіка

What term deals with the study of specific components within a major economy?

The study of the economic behavior of individual persons, families, and businesses is known as​ (a)   .

• microeconomics

• macroeconomics

• production possibilities curves

• Ubernomics

What is the primary focus of microeconomics?

• Individual markets and consumers

• National economic growth

• Global trade policies

• Government fiscal policies

Which of the following is a concept studied in microeconomics?

• Supply and demand

• Inflation rates

• National unemployment

• Exchange rates

In microeconomics, what does the term 'elasticity' refer to?

• The responsiveness of quantity demanded or supplied to changes in price

• The strength of economic growth

• The stability of a currency

• The rate of technological innovation

What is a 'market equilibrium' in microeconomics?

• A situation where supply equals demand

• A period of economic recession

• A state of constant inflation

• A balance of trade surplus

Which of the following best describes a 'perfect competition' market structure?

• Many firms selling identical products

• One firm dominating the market

• A few firms controlling the market

• Government-regulated pricing

What role do 'marginal costs' play in microeconomic analysis?

• They determine the cost of producing one more unit of a good

• They measure the total cost of production

• They indicate the average cost of production

• They reflect the fixed costs of production

In microeconomics, what is a 'consumer surplus'?

• The difference between what consumers are willing to pay and what they actually pay

• The total revenue generated by a firm

• The excess supply in a market

• The profit made by producers

What is the 'law of diminishing returns'?

• As more of a variable input is added to a fixed input, the additional output eventually decreases

• The total output increases indefinitely with more input

• The cost of production decreases with more input

• The market price remains constant regardless of input