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Questions and Answers
What does microeconomics focus on?
What does microeconomics focus on?
- Factors affecting employment and economic growth
- Behaviour of economic agents and how economies work
- Analysis of the economy as a system
- Interactions of individual agents and markets (correct)
Which of the following is an example of an individual agent in economics?
Which of the following is an example of an individual agent in economics?
- Cybersecurity analysts
- Political parties
- Labour unions
- Households (correct)
What is the main distinction between positive economics and normative economics?
What is the main distinction between positive economics and normative economics?
- Positive economics looks at individual agents while normative economics looks at markets.
- Positive economics analyzes microeconomics while normative economics analyzes macroeconomics.
- Positive economics describes 'what is' while normative economics advocates 'what ought to be'. (correct)
- Positive economics focuses on economic theory while normative economics focuses on applied economics.
What does macroeconomics analyze in the economy?
What does macroeconomics analyze in the economy?
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What distinction exists between mainstream economics and heterodox economics?
What distinction exists between mainstream economics and heterodox economics?
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Where can economic analysis be applied in society?
Where can economic analysis be applied in society?
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'What is' vs. 'What ought to be' is a distinction in which branches of economics?
'What is' vs. 'What ought to be' is a distinction in which branches of economics?
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'Applied' vs. 'Theoretical' is a distinction in which fields of economics?
'Applied' vs. 'Theoretical' is a distinction in which fields of economics?
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