Economics: Basics and Beyond

• The application of economic analysis in diverse subjects
• The interactions of individual agents and markets (correct)
• The economy as a system including production and consumption
• Factors affecting employment and economic growth

• Positive economics analyzes rational economics, while normative economics analyzes behavioral economics
• Positive economics advocates 'what ought to be', while normative economics describes 'what is'
• Positive economics focuses on economic theory, while normative economics focuses on applied economics
• Positive economics describes 'what is', while normative economics advocates 'what ought to be' (correct)

• Business, finance, cybersecurity, health care, engineering, and government (correct)
• Individual agents, markets, and their interactions
• Crime, education, the family, feminism, law, philosophy, politics, religion, social institutions, war, science, and the environment
• Factors affecting employment and economic growth

<p>Rational economics (D)</p> Signup and view all the answers

<p>'The economy as a system where production, consumption, saving, and investment interact' (D)</p> Signup and view all the answers