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Questions and Answers
What does microeconomics focus on?
What does microeconomics focus on?
- The behavior of government and international organizations
- The behavior of financial markets
- The behavior of individuals, households, and businesses (correct)
- The behavior of the overall economy
Which branch of economics looks at the economy as a whole?
Which branch of economics looks at the economy as a whole?
- Macroeconomics (correct)
- Public economics
- Microeconomics
- International economics
What does macroeconomics study?
What does macroeconomics study?
- The behavior of individuals, households, and businesses
- The behavior of financial markets
- The behavior of specific industries
- The behavior of the overall economy (correct)
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Study Notes
Introduction to Microeconomics and Macroeconomics
Microeconomics and macroeconomics are two distinct branches of economics that focus on different levels of economic analysis. Microeconomics, which stands for "small economics" in Greek, studies the behavior of individuals, households, and businesses, while macroeconomics, which stands for "big economics" in Greek, looks at the economy as
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