The determination of price and output in specific markets is studied in:
A) econometrics.
B) normative economics.
C) positive economics.
D) microeconomics.
E) macroeconomics.

Question

Quizplus · Accepted Answer

Microeconomics studies the determination of price and output in specific markets, while macroeconomics studies the economy as a whole. Normative economics deals with value judgments and what ought to be, while positive economics focuses on what is and how the economy works. Econometrics involves using statistical methods to analyze economic data.

The Determination of Price and Output in Specific Markets Is