Behavioral economics (also, behavioural economics) studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals and institutions and how those decisions vary from those implied by classical economic theory.. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Economics is primarily concerned with resource choices, but the various elements that effect the availability of these resources is also an important factor. because everything is related with economics as we know micro economics is related with small things or individual units it concerned with the act of households. Financial Management MCQ Questions and answers with easy and logical explanations. Source: Wikipedia Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. For example, one result of the nineteenth- and twentieth-century debate over capitalism and socialism is a general consensus that capitalism is effective at producing wealth and socialism is effective at keeping people poor. B)macroeconomics. the study of economics is primarily concerned with choices that are made in seeking to use scarce resources? 3) obtaining maximum output from available resources. Economics is the study of the means by which people gain their resources and how they use their resources. (A) Microeconomics is concerned primarily with the problem of what , how and for whom to produce (B) Microeconomics is concerned primarily with the economic behavior of individual decision making units when at equilibrium (C) Microeconomics is concerned primarily with the time path and processes C. demonstrating the superior nature of capitalist economies. C. relies solely on the scientific method for analysis. 4 years ago. • Neither did governing bodies regard their role as primarily concerned with monitoring the curriculum. Microeconomics focuses on the operation of the economy at the level of the units in which basic choices are made in the face of scarcity; therefore, it is primarily concerned with markets and prices. C)positive economics. The concept of economic efficiency is primarily concerned with? Financial gains. • Private law primarily concerns the rights and obligations of citizens against and towards one another. The scholars developed machine-learning techniques to classify economics papers into subfields (such as macroeconomics or industrial organization) and by research “style” — meaning whether papers are primarily concerned with economic theory, empirical analysis, or … Financial Management MCQ is important for exams like CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other accounts department exam. Let’s take your answer for a test drive using this quiz. Personnel management exist to advice and assist the line managers in personnel matters. One means by which society allocates scarce resources and goods is the market system. 13) Economics is primarily concerned with. The study of economics is primarily concerned with A. determining the most equitable distribution of income in the economy. The results of economic analysis also lead directly to ethical issues. 75 relations. Do you think that you have what it takes to identify which economic study is being described by the questions below? Health Economics Research Unit – University of Aberdeen. There are different things that we get to study when we take up economics as a discipline. Learning about interest rates, exchange rates, economic indicators and equity markets can help you make better decisions about investing and obtaining mortgages. “Attention economics” today is primarily concerned with the problem of getting consumers to consume advertising. Abstracts of research, links to sites and more. Anonymous. Accounting and economics both involve plenty of number-crunching. The study of economics is primarily concerned with keeping private businesses from losing money. Economics is not to be concerned only with the production of wealth but also the distribution of wealth. Therefore, personnel department is a staff department of an organization. Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. on Academia.edu. Economics is primarily concerned with resource choices, but the various elements that effect the availability of these resources is also an important factor. This problem has been solved! focus on individuals or households, social exclusion is primarily concerned with the relationship between the individual and society, and the dynamics of that relationship. In fact, in many ways, it appears useful to emphasise similarities between the debates about social exclusion and the debates about the barriers generated by disability. Economics is a social science that: A. is primarily concerned with money. 12) 13)The analysis of the behavior of individual decision-making units is the definition of A)microeconomics. Economics Knowledge Is Useful at a Personal Level When pursuing a degree in economics, you'll learn a lot of skills and knowledge that you can apply to other jobs or to your personal life. 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