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Economics Basics Quiz

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Questions and Answers

What does macroeconomics analyze?

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

What is the focus of microeconomics?

Individual agents and markets, their interactions, and the outcomes of interactions.

What are the broad distinctions within economics?

Positive economics and normative economics, economic theory and applied economics, rational economics and behavioural economics, mainstream economics and heterodox economics.

Where can economic analysis be applied in society?

<p>Business, finance, cybersecurity, health care, engineering, and government, as well as diverse subjects like crime, education, family, feminism, law, philosophy, politics, religion, social institutions, war, science, and the environment.</p> Signup and view all the answers