8 Questions
Which field of economics studies the choices made by households, firms, and government and how these choices affect the markets for goods and services?
Microeconomics
What is the sum of consumption, investments, government spending, and imports-exports that calculates the growth or shrinkage of the economy called?
Gross Domestic Product (GDP)
What does the science of economics primarily explore?
The choices made by individual people
Which field of economics studies the nation’s economy as a whole?
Macroeconomics
Which field of economics studies the choices made by individual people, as well as organizations (such as the government) to understand the standard of living, purchasing power, as well as prosperity and efficiency?
Microeconomics
Which field of economics studies the choices made by households, firms, and government and of how these choices affect the markets for goods and services?
Microeconomics
Which field of economics studies the nation’s economy as a whole?
Macroeconomics
What is the sum of consumption, investments, government spending, and imports-exports that calculates the growth or shrinkage of the economy called?
Gross Domestic Product (GDP)
Test your knowledge of economics with this quiz! Explore the concepts of microeconomics and macroeconomics, and learn about the choices made by individuals, organizations, and governments. See how these choices impact the markets for goods and services, and gain a deeper understanding of the standard of living, purchasing power, prosperity, and efficiency.
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