5 Questions
______ () is a social science that studies the production, distribution, and consumption of goods and services.
Economics
______ analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions.
Microeconomics
______ analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements.
Macroeconomics
______ can be applied throughout society, including business, finance, cybersecurity, health care, engineering and government.
Economic analysis
Other broad distinctions within economics include those between positive economics, describing 'what is', and normative economics, advocating 'what ought to be'; between economic theory and applied economics; between rational and behavioural economics; and between mainstream economics and heterodox economics.
Economic analysis
Test your knowledge of economics with this quiz that covers the fundamental concepts of microeconomics and macroeconomics, including the study of production, distribution, and consumption of goods and services, as well as the behavior and interactions of economic agents.
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