Microeconomics Fundamentals Quiz
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Questions and Answers

What does microeconomics analyze?

  • Social interactions in the economy
  • Macroeconomic policies
  • Global economic systems
  • Individual agents and markets (correct)

What are the broad distinctions within economics?

  • Rational economics and irrational economics
  • Traditional economics and modern economics
  • Theoretical economics and practical economics
  • Positive economics and normative economics (correct)

What does macroeconomics analyze?

  • Global economic trends
  • Social behaviors in the economy
  • The economy as a system with production, consumption, saving, and investment (correct)
  • Microeconomic policies and their impacts

What is the focus of normative economics?

<p>Advocating 'what ought to be' (B)</p> Signup and view all the answers

What are examples of individual agents in microeconomics?

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

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