Master the Basics of Microeconomics
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Questions and Answers

Which social science studies the production, distribution, and consumption of goods and services?

  • Psychology
  • Sociology
  • Economics (correct)
  • Anthropology

    • What does microeconomics analyze?

  • The behavior of societies
  • The behavior of governments
  • The behavior of individuals
  • The behavior of economic agents (correct)

    • What does macroeconomics analyze?

  • The behavior of individuals
  • The behavior of governments
  • The behavior of economic agents
  • The behavior of societies (correct)

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

    <p>Positive economics focuses on what is, while normative economics focuses on what ought to be</p> Signup and view all the answers

    What is the distinction between economic theory and applied economics?

    <p>Economic theory focuses on theoretical concepts, while applied economics focuses on practical applications</p> Signup and view all the answers

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