Microeconomics Fundamentals Quiz
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Microeconomics Fundamentals Quiz

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Questions and Answers

What does microeconomics primarily analyze?

  • Macroeconomic policies
  • Individual agents and markets (correct)
  • Economic growth and development
  • Global economic systems

    • What is the focus of macroeconomics?

  • Microeconomic policies
  • Individual consumer behavior
  • Market equilibrium
  • The economy as a system and its interactions (correct)

    • What is the distinction between positive economics and normative economics?

  • Describing 'what ought to be' vs advocating 'what is'
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Describing 'what is' vs predicting 'what will be'
  • Advocating 'what is' vs describing 'what ought to be'

    • What does rational economics primarily focus on?

    <p>Logical decision-making and behavior</p> Signup and view all the answers

    What is the main concern of behavioural economics?

    <p>Understanding actual human behavior in economic decisions</p> Signup and view all the answers

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