Economics Basics Quiz
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Questions and Answers

What is the main focus of microeconomics?

  • Analyzing the economy as a system
  • Analyzing individual agents and markets (correct)
  • Describing 'what is'
  • Advocating 'what ought to be'

    • What does macroeconomics primarily analyze?

  • Factors affecting employment
  • Describing 'what is'
  • Analyzing individual agents and markets
  • The economy as a system (correct)

    • In economics, what does normative economics focus on?

  • Factors affecting employment
  • Advocating 'what ought to be' (correct)
  • Analyzing individual agents and markets
  • Describing 'what is'

    • Where can economic analysis be applied throughout society?

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

    What are the broad distinctions within economics?

    <p>Between positive economics and normative economics</p> Signup and view all the answers

    What does microeconomics primarily analyze?

    <p>Individual agents and markets</p> Signup and view all the answers

    What does macroeconomics primarily analyze?

    <p>The economy as a system</p> Signup and view all the answers

    What does normative economics advocate?

    <p>&quot;What ought to be&quot;</p> Signup and view all the answers

    Where can economic analysis be applied throughout society?

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

    What are the broad distinctions within economics?

    <p>Positive economics and normative economics</p> Signup and view all the answers

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