Podcast
Questions and Answers
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
- Normative economics
- Positive economics
- Macroeconomics (correct)
- Microeconomics
What does microeconomics analyze?
What does microeconomics analyze?
- Individual agents and markets (correct)
- Public policies
- Economic growth
- Currency inflation
Which branch of economics focuses on describing 'what is' rather than advocating 'what ought to be'?
Which branch of economics focuses on describing 'what is' rather than advocating 'what ought to be'?
- Behavioural economics
- Positive economics (correct)
- Normative economics
- Rational economics
What does macroeconomics analyze?
What does macroeconomics analyze?
What are some examples of individual agents analyzed in microeconomics?
What are some examples of individual agents analyzed in microeconomics?
Scarcity in economics refers to the fact that there exists only a finite amount of human and nonhuman resources. What is the opposite of scarcity?
Scarcity in economics refers to the fact that there exists only a finite amount of human and nonhuman resources. What is the opposite of scarcity?
Scarcity plays a key role in economic theory and is essential for a proper definition of economics. What is the best example of social wealth, according to Walras?
Scarcity plays a key role in economic theory and is essential for a proper definition of economics. What is the best example of social wealth, according to Walras?
Scarcity includes an individual's lack of resources to buy commodities. What is scarcity's role in economic theory?
Scarcity includes an individual's lack of resources to buy commodities. What is scarcity's role in economic theory?
If the conditions of scarcity didn't exist and an infinite amount of every good could be produced, what would happen to economic goods?
If the conditions of scarcity didn't exist and an infinite amount of every good could be produced, what would happen to economic goods?
Scarcity refers to the limited availability of a commodity. What does scarcity also include?
Scarcity refers to the limited availability of a commodity. What does scarcity also include?
Which of the following best describes the concept of separation of powers?
Which of the following best describes the concept of separation of powers?
Which branch is typically included in the trias politica model of separation of powers?
Which branch is typically included in the trias politica model of separation of powers?
In which types of systems can there be overlap in membership and functions between different branches of government?
In which types of systems can there be overlap in membership and functions between different branches of government?
What is the main intention behind a system of separated powers?
What is the main intention behind a system of separated powers?
In non-authoritarian jurisdictions, does the judiciary usually overlap with the other branches of government?
In non-authoritarian jurisdictions, does the judiciary usually overlap with the other branches of government?
