Economics Basics Quiz
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Questions and Answers

In economics, what does normative economics advocate?

  • "What ought to be" (correct)
  • "What is not"
  • "What might be"
  • "What is"

    • What does microeconomics primarily analyze?

  • Public policies impacting society
  • Currency inflation and economic growth
  • Individual agents and markets (correct)
  • Factors affecting employment

    • Where can economic analysis be applied?

  • Business, finance, and government (correct)
  • Media, entertainment, and sports
  • Construction, real estate, and hospitality
  • Agriculture, forestry, and fishing

    • What does macroeconomics analyze as a system?

    <p>Production, consumption, saving, and investment interactions</p> Signup and view all the answers

    Where can economic analysis be applied besides business and finance?

    <p>Cybersecurity, health care, and engineering</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 normative economics advocate?

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

    Where can economic analysis be applied?

    <p>Health care</p> Signup and view all the answers

    What does macroeconomics analyze as a system?

    <p>&quot;Production, consumption, saving, and investment&quot;</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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