Questions and Answers
What is economics?
Economics is a social science that studies the production, distribution, and consumption of goods and services.
What does microeconomics analyze?
Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.
What does macroeconomics analyze?
Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.
What are the distinctions within economics?
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What does positive economics describe?
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