Question

Which of the following statements is true?

• A. Microeconomics is concerned chiefly with the economy as a whole.
• B. Macroeconomics is concerned chiefly with individual markets.
• C. Governments have no influence over market prices.
• D. When economists study the price in a market, their chief aims are to understand why the price is what it is and why it may change.

Answer 1

Answer:

D. When economists study the price in a market, their chief aims are to understand why the price is what it is and why it may change.