CA Foundation P4 · Chapter 1 · Question 3 of 15
Which of the following is a microeconomic issue?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Estimating the demand for a firm's newly launched soap
Explanation
Microeconomics studies individual units such as a consumer, a firm or an industry. Demand for one firm's product is an individual-unit problem. The general price level, national income and economy-wide unemployment are aggregates studied in macroeconomics.
More Nature and Scope of Business Economics MCQs
- Q5The central problem 'how to produce' relates mainly to:
- Q6The basic economic problem of scarcity arises because:
- Q7In a capitalist economy, the allocation of resources is primarily guided by:
- Q8Which of the following is NOT a feature of a socialist economy?
- Q9Which of the following is commonly cited as a major demerit of a capitalist economy?