__________ Represents a Quick Apprehension of a Decision Situation Based

question 172

Short Answer

__________ represents a quick apprehension of a decision situation based on past experience but without conscious thought.

---

Definitions:

Microeconomics

A branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate changes in the economy such as GDP and unemployment.

Microeconomist

a specialist who studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

Macroeconomist

An economist who specializes in understanding the large-scale or general economic factors that affect economies as a whole.