Which of the Following Is an Example of a Microeconomic

question 381

Multiple Choice

Which of the following is an example of a microeconomic decision?

• A) an individual deciding how to allocate the time he or she has for work and leisure
• B) a multinational company deciding where to relocate its world headquarter
• C) a small shoe factory deciding how much leather to purchase for the next quarterʹs production need
• D) All of the above answers are correct.

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Definitions:

Personality Research

The scientific study aimed at understanding how and why individuals differ in their patterns of thoughts, feelings, and behaviors.

Bivariate Approach

A statistical method that involves the analysis of two variables to understand the relationship between them.

Scientific

Relating to or based on the methods and principles of science, involving systematic observation, experiment, and reasoning to acquire knowledge.

Quantitative

Quantitative refers to a type of information or data that can be measured and expressed numerically, often used in research to quantify behaviors, opinions, or other defined variables.