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Fundamental Concepts of Economics Quiz
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Fundamental Concepts of Economics Quiz

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Questions and Answers

What does microeconomics primarily analyze?

  • Currency inflation
  • Macroeconomic policies
  • Economic growth
  • Individual agents and markets (correct)

    • What does macroeconomics primarily analyze?

  • Individual agents and markets
  • Positive economics
  • The economy as a system and its interactions (correct)
  • Factors affecting employment

    • What is the distinction between positive economics and normative economics?

  • Describing 'what is' vs predicting 'what will be'
  • Advocating 'what will be' vs describing 'what is'
  • Describing 'what ought to be' vs advocating 'what is'
  • Describing 'what is' vs advocating 'what ought to be' (correct)

    • What are the main elements analyzed in macroeconomics?

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

    What does economics focus on?

    <p>The behaviour and interactions of economic agents</p> Signup and view all the answers

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