Question

When you buy a pen, which branch of Economics analyses your decision

Answer 1

it is consumption activity & micro economics

Answer 2

The branch of economics that analyses the decision while buying a pen is - Microeconomics.

• Microeconomics is the branch that deals with the supply and demand of certain products or goods.

• It determines the amount to be supplied or the amount required based on the demand.

• It also deals with determining the price of the product that a person has to pay, in order to get the product.

• Microeconomics study renders the classification of subgroups like sellers, buyers, owners etc.