{"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>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9707134468f\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    comparative statics, general equilibrium and positive economics                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    comparative statics, partial equilibrium and normative economics                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    dynamic, partial equilibrium and positive economics                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"true\">\r\n                    comparative statics, partial equilibrium and positive economics                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--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 <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path 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