Podcast
Questions and Answers
What does microeconomics primarily analyze in the economy?
What does microeconomics primarily analyze in the economy?
- Individual agents and markets (correct)
- Global economic systems
- Macroeconomic indicators
- Government policies
Which type of economics advocates 'what ought to be'?
Which type of economics advocates 'what ought to be'?
- Positive economics
- Rational economics
- Behavioural economics
- Normative economics (correct)
In what areas can economic analysis be applied throughout society?
In what areas can economic analysis be applied throughout society?
- Finance, cybersecurity, and engineering
- Feminism, religion, and war
- Business, law, and politics
- Health care, education, and social institutions (correct)
What does macroeconomics primarily analyze in the economy?
What does macroeconomics primarily analyze in the economy?
Which branch of economics focuses on the behaviour of economic agents and how economies work?
Which branch of economics focuses on the behaviour of economic agents and how economies work?
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
What was the earlier term for the discipline of economics?
What was the earlier term for the discipline of economics?
According to Adam Smith, what did political economy aim to provide?
According to Adam Smith, what did political economy aim to provide?
How did Jean-Baptiste Say define economics?
How did Jean-Baptiste Say define economics?
Who coined the term 'the dismal science' in connection with classical economics?
Who coined the term 'the dismal science' in connection with classical economics?
According to John Stuart Mill, what does economics trace the laws of?
According to John Stuart Mill, what does economics trace the laws of?
According to Alfred Marshall, what is economics a study of?
According to Alfred Marshall, what is economics a study of?
What did Lionel Robbins describe as the subject matter of economics?
What did Lionel Robbins describe as the subject matter of economics?
What is the derivation of the term 'economics'?
What is the derivation of the term 'economics'?
What did Adam Smith define as the twofold objectives of political economy?
What did Adam Smith define as the twofold objectives of political economy?
What did Thomas Carlyle coin as an epithet for classical economics?
What did Thomas Carlyle coin as an epithet for classical economics?
