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Which of the following is an example of microeconomics?
(a) National income
(b) Income and employment
(c) Price of a commodity
(d) Price level



Answer :

GinnyAnswer

Final answer:

Microeconomics involves the analysis of individual economic agents and their decision-making. An example of this is the study of the price of commodities.


Explanation:

Microeconomics focuses on individual economic agents such as households and firms making decisions regarding resource allocation and pricing of goods and services. An example of microeconomics is the price of a commodity, which reflects the interaction between supply and demand for that specific product.


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