Questions and Answers
Which social science studies the production, distribution, and consumption of goods and services?
What does microeconomics analyze?
What does macroeconomics analyze?
What is the difference between positive economics and normative economics?
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What is applied economics?
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Which subject can economic analysis be applied to?
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What was the earlier term for economics?
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What are some broad distinctions within economics?
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What are some subjects that economic analysis can be applied to?
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What does economics focus on?
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Who is credited with being the 'first economist' according to economic historians?
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Which group of thinkers developed the idea of the economy as a circular flow of income and output?
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Which economic doctrine held that a nation's wealth depended on its accumulation of gold and silver?
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Who rejected the method-based definition of Robbins and preferred definitions like those of Say?
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According to Ha-Joon Chang, why would the definition of Robbins make economics very peculiar?
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Which group of writers is described as 'coming nearer than any other group to being the 'founders' of scientific economics' by Joseph Schumpeter?
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What did the mercantilist doctrine advocate in terms of trade and manufacturing?
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How do other sciences define themselves in terms of their area of inquiry or object of inquiry?
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Who is credited with being the source of the word 'economy'?
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What did the physiocrats believe was the basis of all wealth?
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Which term is derived from the Ancient Greek word for 'way to run a household'?
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According to Adam Smith, what is the objective of political economy?
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Who defined economics as the science of production, distribution, and consumption of wealth?
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Who referred to classical economics as 'the dismal science'?
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According to Lionel Robbins, what is economics the science of?
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What did Lionel Robbins say about the definition of economics?
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What did Gary Becker favor in his approach to economics?
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What did the economic theory of maximizing behavior and rational-choice modeling expand the domain of economics to?
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What did Lionel Robbins say about the subject matter of economics in the 1960s?
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What criticism was made about Lionel Robbins' definition of economics?
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