Question

Q4. Which branch of Economics studies the economic activities on an individual level?​

Answer 1

Answer:

There are a number of other branches of economics:

• Behavioral economics.
• Business economics.
• Constitutional economics.
• Cultural economics.
• Development economics.
• Ecological economical.
• Economic geography.
• Environmental economics.
• Economics is a broad subject concerned with the optimal distribution of resources in society. Within the subject, there are several different branches which focus on different aspects.

Answer 2

Answer:

The branch that studies economic activities on a personal level is Microeconomics.

Explanation:

1. Microeconomics could be a branch of mainstream economics that studies the behavior of people and firms in making decisions regarding the allocation of scarce resources and therefore the interactions among these individuals and firms.
2. Microeconomics focuses on the study of individual markets, sectors, or industries as critical the economy as whole, which is studied in macroeconomics.
3. One goal of microeconomics is to investigate the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses.
4. Microeconomics shows conditions under which free markets result in desirable allocations. It also analyzes market failure, where markets fail to provide efficient results.
5. Microeconomics also deals with the results of economic policies (such as changing taxation levels) on microeconomic behavior and thus on the aforementioned aspects of the economy.

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