Microeconomics Basics Quiz

Economics focuses on the behaviour and interactions of economic agents and how economies work.

Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.

Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.

<p>The other broad distinctions within economics include those between positive economics and normative economics, economic theory and applied economics, and rational and behavioural economics.</p> Signup and view all the answers

<p>Individual agents in microeconomics may include households, firms, buyers, and sellers.</p> Signup and view all the answers