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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Overall economy as a system
- Factors affecting employment
- Individual agents and markets (correct)
- Positive and normative economics
What is the focus of macroeconomics?
What is the focus of macroeconomics?
- Differences between rational and behavioural economics
- Interactions of production, consumption, saving, and investment (correct)
- Factors affecting economic growth
- Behaviour and interactions of economic agents
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- 'Economic theory' versus 'applied economics'
- 'Mainstream economics' versus 'heterodox economics'
- 'Rational economics' versus 'behavioural economics'
- 'What is' versus 'what ought to be' (correct)
Where can economic analysis be applied?
Where can economic analysis be applied?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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