Microeconomics Fundamentals Quiz
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Microeconomics Fundamentals Quiz

Created by
@RestfulObsidian6198

Questions and Answers

What does microeconomics analyze?

  • Currency inflation and economic growth
  • Overall economy as a system
  • Individual agents and markets (correct)
  • Factors affecting employment
  • What is the focus of macroeconomics?

  • Behaviour and interactions of economic agents
  • Analysis of individual agents and markets
  • Factors affecting employment
  • Interaction of production, consumption, saving, and investment (correct)
  • What is the distinction between positive economics and normative economics?

  • Rational economics vs behavioural economics
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Economic theory vs applied economics
  • Analysis of individual agents vs markets
  • Which agents may be included in the analysis of microeconomics?

    <p>Households, firms, buyers, and sellers</p> Signup and view all the answers

    What is the focus of behavioural economics?

    <p>Understanding the psychological factors influencing economic decisions</p> Signup and view all the answers

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