Eco 102 online assignment/ quiz
Name: IGBOANUDE IJEOMA EUPHERICA Reg. No: 2024/275294 Email: euphericaj@gmail.com Answers 1. B 2. B 3. A 4. A 5. B 6. B 7. A 8. B 9. A 10. B 11. A 12. A 13. A 14. A 15. A 16. A 17. A 18. A 19. A 20. A 21. A 22. A 23. A 24. A 25. A 26. A 27. A 28. A 29. A 30. A 31. A 32. A 33. A 34. A 35. A 36. A 37. A 38. A 39. A 40. A 41. A 42. A 43. A 44. A 45. A 46. A 47. A 48. A 49. A 50. A Essay answers 1. Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources and prices at which they trade goods and services. It considers taxes, regulation and government legislation. Microeconomics focuses on supply and demand that determine price level in the economy. In other words microeconomics studies individual units like households, firms and markets. It focuses on demand and supply, price determination, elasticity, production and costs. Macroeconomics studies the behaviour of a country and how its policies impact the economy as a whole. It analyzes ent...