Which one of the following statements is false ? A. Microeconomics studies how consumers, workers and firms can make optimal trade-offs. B. Prices play a central role in microeconomics. C. Microeconomics is about the allocation of scarce resources. D. Microeconomics is concerned with the fair and equitable distribution of resources among consumers.

Question

Lauren Mills

Social Studies

5 August, 10:01

Which one of the following statements is false ? A. Microeconomics studies how consumers, workers and firms can make optimal trade-offs. B. Prices play a central role in microeconomics. C. Microeconomics is about the allocation of scarce resources. D. Microeconomics is concerned with the fair and equitable distribution of resources among consumers.

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Answers (1)

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Cornelius Merritt · Answer 1

D. Microeconomics is concerned with the fair and equitable distribution of resources among consumers.

Explanation:

Microeconomics is concerned with the study of how households and firms make decisions and how they interact in the market, it studies the behaviour of individuals and firms regarding decisions of how scarce resources are allocated. It is not concerned with the fair and equitable distribution of resources among consumers.