Microeconomics Basics Quiz
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Questions and Answers

What are the two main branches of economics?

Microeconomics and Macroeconomics

What is the focus of microeconomics?

Analyzing individual agents and markets, their interactions, and the outcomes of interactions

What does macroeconomics analyze?

The economy as a system where production, consumption, saving, and investment interact, and factors affecting it

What are the broad distinctions within economics?

<p>Positive economics and normative economics, economic theory and applied economics, rational and behavioral economics, and mainstream economics and heterodox economics</p> Signup and view all the answers

Where can economic analysis be applied?

<p>Throughout society, including business, finance, cybersecurity, health care, engineering, and government</p> Signup and view all the answers

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