The Focus of Microeconomics Is the Study of

question 144

Multiple Choice

The focus of microeconomics is the study of

• A) national economies.
• B) trends in consumer purchases.
• C) the total value of national output.
• D) individuals and firms.
• E) the determinants of the unemployment rate.

---

Definitions:

Groupthink

A mental event happening among a group where the need for agreement or uniformity leads to a choice that is illogical or not functional.

Collective Efficacy

Collective efficacy refers to the shared belief in a group's abilities to organize and execute the courses of action required to achieve given objectives.

False Consensus

A cognitive bias where people overestimate how much others agree with their own beliefs, behaviors, and attitudes.

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution to a problem in an uninhibited, non-judgmental environment.