The Branch of Economics Which Studies How Households and Firms

question 176

Multiple Choice

The branch of economics which studies how households and firms make choices,interact in markets,and how government attempts to influence their choices is called

• A)macroeconomics.
• B)microeconomics.
• C)positive economics.
• D)normative economics.

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Definitions:

External Monitoring

The process of observing and analyzing external trends, forces, or competitions that could impact an entity.

Lower-Level Managers

Managers who are responsible for the daily operations of a company, focusing on managing individuals or small teams and implementing the policies and plans set by higher-level management.

Front Line Workers

Individuals directly involved in the delivery of services or production of goods, often directly interacting with customers or clients.

Efficiency

The ability to accomplish a task or objective with the least waste of time and effort; the effectiveness of productive effort.