{"id":58428,"date":"2024-04-16T01:19:19","date_gmt":"2024-04-16T01:19:19","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58428"},"modified":"2024-04-16T01:19:19","modified_gmt":"2024-04-16T01:19:19","slug":"micro-economics-deals-primarily-with","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/micro-economics-deals-primarily-with\/","title":{"rendered":"Micro-economics deals primarily with"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;comparative statics, general equilibrium and positive economics&#8221; option2=&#8221;comparative statics, partial equilibrium and normative economics&#8221; option3=&#8221;dynamic, partial equilibrium and positive economics&#8221; option4=&#8221;comparative statics, partial equilibrium and positive economics&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>D. comparative statics, partial equilibrium and positive economics<\/strong>.<\/p>\n<p>Microeconomics is the study of the behavior of individual economic agents and how they interact with each other in markets. It is concerned with the allocation of scarce resources among competing uses.<\/p>\n<p>Comparative statics is a method of economic analysis that compares two economic states, such as the state of the economy before and after a change in policy. Partial equilibrium analysis is a method of economic analysis that focuses on the effects of a change in one market on other markets, assuming that all other markets remain unchanged. Positive economics is a branch of economics that is concerned with describing and explaining economic phenomena, without making any value judgments.<\/p>\n<p>The other options are incorrect because:<\/p>\n<ul>\n<li>Option A is incorrect because it includes general equilibrium, which is a branch of macroeconomics that is concerned with the overall economy.<\/li>\n<li>Option B is incorrect because it includes normative economics, which is a branch of economics that is concerned with making value judgments about economic policies.<\/li>\n<li>Option C is incorrect because it includes dynamic, which is a branch of economics that is concerned with the study of economic change over time.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;comparative statics, general equilibrium and positive economics&#8221; option2=&#8221;comparative statics, partial equilibrium and normative economics&#8221; option3=&#8221;dynamic, partial equilibrium and positive economics&#8221; option4=&#8221;comparative statics, partial equilibrium and positive economics&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-58428","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Micro-economics deals primarily with<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/micro-economics-deals-primarily-with\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Micro-economics deals primarily with\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;comparative statics, general equilibrium and positive economics&#8221; 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