微观经济学（第九版）英文版测试题.docx

微观经济学（第九版）英文版测试题

1.Whatismicroeconomics?Howdoesitdifferfrommacroeconomics?

Microeconomicsisabranchofeconomicsthatstudiesthebehaviorofindividualeconomicagentssuchashouseholds,firms,andmarkets.Itfocusesontheforcesofsupplyanddemandinspecificmarkets,pricedetermination,andtheallocationofresourcesatanindividuallevel.Microeconomicsexaminesthedecisionsmadebyindividualsandfirmsandhowthesedecisionsimpacttheoveralleconomy.

Ontheotherhand,macroeconomicsdealswiththeoverallfunctioningandbehaviorofaneconomyasawhole.ItanalyzeseconomicaggregatessuchasGDP,inflation,andunemploymentandstudiesthefactorsthatinfluencetheoveralllevelofeconomicactivity.Macroeconomicsfocusesontheeconomyasawholeandtheinteractionsbetweendifferentsectorsandmarkets.

Themaindifferencebetweenmicroeconomicsandmacroeconomicsisthelevelofanalysis.Microeconomicszoomsinonindividualbehaviorandspecificmarkets,whilemacroeconomicstakesabroaderperspectiveandlooksattheoveralleconomy.

2.Explaintheconceptofsupplyanddemand.Howdotheyinteracttodeterminepricesinamarket?

Supplyanddemandarefundamentalconceptsineconomicsthathelpexplainhowpricesaredeterminedinamarket.

Demandreferstothequantityofagoodorservicethatconsumersarewillingandabletopurchaseatvariouspricelevels.Thedemandcurveshowstherelationshipbetweenpriceandquantitydemanded.Generally,thereisaninverserelationshipbetweenpriceandquantitydemanded,meaningthataspriceincreases,quantitydemandeddecreases,andviceversa.Thisrelationshipisbasedonthelawofdemand.

Supply,ontheotherhand,referstothequantityofagoodorservicethatproducersarewillingandabletoofferforsaleatvariouspricelevels.Thesupplycurveshowstherelationshipbetweenpriceandquantitysupplied.Ingeneral,thereisapositiverelationshipbetween