Microeconomics notes

1 Microeconomics deals with: • the working of the entire economy or large sectors of it. Incorrect • economic growth. Incorrect • individual decision makers in the economy. (True Answer )Correct • gross domestic product. Incorrect 2 The study of a single firm and how it determines prices would fall under the study of: • macroeconomics. Incorrect • microeconomics. (True Answer )Correct • economic growth. Incorrect • fiscal policy. Incorrect 3 Macroeconomics deal...

Chapter 1, 3-7 notes for Rutgers Introduction to Microeconomics. Includes key points of the chapters. Chapter 1 goes through the basic principles of Microeconomics. Chapter 3 concerns supply and demand. Chapter 4 is about consumer and producer surplus. Chapter 5 is about price controls and quotas. Chapter 6 goes through elasticity. Chapter 7 concerns taxes.

1 Microeconomics deals with: • the working of the entire economy or large sectors of it. Incorrect • economic growth. Incorrect • individual decision makers in the economy. (True Answer )Correct • gross domestic product. Incorrect 2 The study of a single firm and how it determines prices would fall under the study of: • macroeconomics. Incorrect • microeconomics. (True Answer )Correct • economic growth. Incorrect • fiscal policy. Incorrect 3 Macroeconomics deal...

Chapter 1, 3-7 notes for Rutgers Introduction to Microeconomics. Includes key points of the chapters. Chapter 1 goes through the basic principles of Microeconomics. Chapter 3 concerns supply and demand. Chapter 4 is about consumer and producer surplus. Chapter 5 is about price controls and quotas. Chapter 6 goes through elasticity. Chapter 7 concerns taxes.