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Microeconomics Fundamentals Quiz

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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 (D)</p> Signup and view all the answers

What is the focus of behavioural economics?

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

Microeconomics Fundamentals Quiz

Choose a study mode

Podcast

Questions and Answers

What does microeconomics analyze?

What is the focus of macroeconomics?

What is the distinction between positive economics and normative economics?

Which agents may be included in the analysis of microeconomics?

What is the focus of behavioural economics?

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