Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What does microeconomics analyze?
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?
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?
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?
Which agents may be included in the analysis of microeconomics?
Signup and view all the answers
What is the focus of behavioural economics?
What is the focus of behavioural economics?
Signup and view all the answers
