Economics Basics Quiz
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Questions and Answers

What does microeconomics analyze?

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

    • What does macroeconomics analyze?

  • Market fluctuations in specific industries
  • Microeconomic behaviors of individual agents
  • Economy as a system and its interactions (correct)
  • Regional economic disparities

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

  • 'What ought to be' vs 'what should be'
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • 'What should be' vs 'what is practical'
  • 'What is' vs 'what might be'

    • Where can economic analysis be applied?

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

    What does mainstream economics focus on?

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

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