Podcast
Questions and Answers
______ () is a social science that studies the production, distribution, and consumption of goods and services.
______ () 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.
______ 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.
______ 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.
______ can be applied throughout society, including business, finance, cybersecurity, health care, engineering and government.
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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.
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.
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