Question

Aidan is a college student. As part of his economics project, he has to collect data on the consumption patterns of the households in his locality. In this scenario, Aidan is most likely involved in the study of _____.

Answer 1

Answer:

Microeconomics

Explanation:

Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources and prices of goods and services. It also takes into account taxes, regulations, and government legislation.

Microeconomics main focus is on the supply and demand and other forces that determine the price levels in the economy. Microeconomics main purpose is to understand human choices, decisions, and the allocation of resources