Question : What are the main tools of microeconomics?
Option 1: Demand and supply
Option 2: Demand and cost
Option 3: Supply and producer's equilibrium
Option 4: All of the above
Correct Answer: Demand and supply
Solution : Microeconomics is the branch of economic theory that examines how various components of an economy behave. For instance, a person's income, the price of a commodity, etc. Demand and supply are its major tools. Hence, the correct option is 1.
Question : The other name of microeconomics is _____________
Question : The main tools of macroeconomics are ___________ and _________.
Question : The concept of demand and supply is a key topic in:
Question : Equilibrium price is the price when :
Question : Plant and machinery are
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