5 Questions
What is economics?
Economics is a social science that studies the production, distribution, and consumption of goods and services.
What does microeconomics analyze?
Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.
What does macroeconomics analyze?
Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.
What are the broad distinctions within economics?
The broad distinctions within economics include those between positive economics and normative economics, economic theory and applied economics, and rational and behavioural economics.
What are some examples of individual agents in microeconomics?
Examples of individual agents in microeconomics include households, firms, buyers, and sellers.
Test your knowledge of microeconomics with this quiz! Explore the basic elements of the economy, including individual agents and markets, their interactions, and the outcomes of those interactions. See how well you understand the behavior and interactions of economic agents in this social science field.
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