5 Questions
Which word does the term 'economics' originate from?
oikonomia
What is the definition of economics?
The study of how society decides to allocate scarce resources among different alternative uses in order to satisfy the most important wants of people.
What are the three fundamental questions in economics?
What to produce and in what quantity, How to produce, and For whom to produce.
What are the characteristics of microeconomics?
Studies the behavior of individuals in the market.
What are the characteristics of macroeconomics?
Deals with the economy as a whole.
Test your knowledge of economics with this quiz! Learn the definition of economics, its origins from the Greek word "oikonomia," and explore the concept of how society allocates scarce resources. Challenge yourself and expand your understanding of this fascinating field!
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