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Microeconomics Basics Quiz
5 Questions
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Microeconomics Basics Quiz

Created by
@RecordSettingAmetrine

Questions and Answers

What does microeconomics primarily analyze?

  • International trade agreements
  • Macroeconomic indicators
  • Individual agents and markets (correct)
  • Government policies and regulations

    • What does macroeconomics primarily analyze?

  • The economy as a system and its interactions (correct)
  • Global economic crises and their impact
  • Microeconomic trends and patterns
  • Consumer behavior and preferences

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

  • Theoretical vs applied economic analysis
  • Quantitative vs qualitative economic research
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Short-term vs long-term economic forecasting

    • What is the focus of rational economics?

    <p>Analyzing decisions based on logical reasoning</p> Signup and view all the answers

    What are the primary economic resources analyzed in macroeconomics?

    <p>Labour, capital, and land</p> Signup and view all the answers

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