10 Questions
Which social science studies the production, distribution, and consumption of goods and services?
Economics
What does microeconomics analyze?
The behavior and interactions of economic agents
What does macroeconomics analyze?
The economy as a system
What is the distinction between positive and normative economics?
Positive economics describes 'what is', while normative economics describes 'what ought to be'
What is the distinction between economic theory and applied economics?
Economic theory focuses on the outcomes of economic interactions, while applied economics focuses on the behavior and interactions of economic agents
Which branch of economics focuses on the behavior and interactions of individual agents and markets?
Microeconomics
What does macroeconomics analyze as a system?
Factors affecting the economy
Which branch of economics advocates 'what ought to be'?
Normative economics
What are some examples of individual agents in economics?
Households, firms, buyers, and sellers
What is the distinction between economic theory and applied economics?
One focuses on individual agents, while the other focuses on the economy as a system
Test your knowledge of economics with this quiz! Learn about the production, distribution, and consumption of goods and services, as well as the behavior of economic agents and how economies function. Explore microeconomics and gain insights into individual agents, markets, and their interactions.
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