Economics Basics Quiz

Economics is a social science that studies the production, distribution, and consumption of goods and services.

Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.

Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.

<p>Broad distinctions within economics include those between positive economics, normative economics, economic theory, applied economics, rational economics, and behavioural economics.</p> Signup and view all the answers

<p>Economic analysis can be applied throughout society, including business, finance, cybersecurity, health care, engineering, and government.</p> Signup and view all the answers