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Questions and Answers
What does microeconomics analyze?
Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.
What is economics?
Economics is a social science that studies the production, distribution, and consumption of goods and services.
What does macroeconomics analyze?
Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.
What do positive economics and normative economics describe?
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What are the broad distinctions within economics?
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