Economics Basics Quiz
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Questions and Answers

What does microeconomics primarily analyze?

  • National economic systems
  • International trade agreements
  • Global economic policies
  • Individual agents and markets (correct)

    • What are the key elements analyzed in macroeconomics?

  • Business cycle fluctuations
  • Individual consumer behavior
  • Market demand and supply
  • Production, consumption, saving, and investment (correct)

    • What is the distinction between positive economics and normative economics?

  • "What should be" versus "what could be"
  • "What can be" versus "what may be"
  • "What will be" versus "what might be"
  • "What is" versus "what ought to be" (correct)

    • Where can economic analysis be applied throughout society?

    <p>Business, finance, cybersecurity, health care, and government</p> Signup and view all the answers

    What are the areas to which economic analysis is applied?

    <p>Crime, education, family, law, religion, science</p> Signup and view all the answers

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