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 distinction between positive economics and normative economics?
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Where can economic analysis be applied?
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What was the earlier term for the discipline of economics?
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What are the basic elements analyzed in microeconomics?
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What are the factors analyzed in macroeconomics?
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What is the distinction between economic theory and applied economics?
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What is the distinction between rational economics and behavioural economics?
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Who is credited with being the 'first economist' in ancient Greece?
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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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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 economic doctrine believed that a nation's wealth depended on the accumulation of gold and silver?
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Who were associated with the rise of economic nationalism and modern capitalism in Europe?
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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 word Oikos refer to in ancient Greece?
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What did mercantilism advocate in terms of import and export?
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What did 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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According to Jean-Baptiste Say, what does economics study?
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Who coined the term 'the dismal science' as an epithet for classical economics?
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According to Lionel Robbins, what is the most commonly accepted current definition of economics?
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What did Alfred Marshall define economics as in his textbook Principles of Economics?
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According to Gary Becker, what approach does he favor in economics?
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What did John Stuart Mill define economics as?
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What did Adam Smith define political economy as?
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Why can economics be used to study war?
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