Microeconomics Fundamentals Quiz
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Questions and Answers

What does microeconomics primarily analyze?

  • Global economic trends
  • Individual agents and markets (correct)
  • Government policies and regulations
  • Macroeconomic indicators

Which distinction within economics involves describing 'what ought to be'?

  • Rational economics
  • Normative economics (correct)
  • Behavioural economics
  • Mainstream economics

Where can economic analysis be applied?

  • Agriculture, forestry, and fishing
  • Sports, entertainment, and fashion
  • Business, finance, and government (correct)
  • Art, music, and literature

What does macroeconomics primarily analyze?

<p>The economy as a system (A)</p> Signup and view all the answers

What are the broad distinctions within economics?

<p>Positive economics and normative economics (C)</p> Signup and view all the answers

What does microeconomics primarily analyze?

<p>Individual agents and markets (C)</p> Signup and view all the answers

What does macroeconomics primarily analyze?

<p>Economy as a system (C)</p> Signup and view all the answers

What are the broad distinctions within economics?

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

Where can economic analysis be applied?

<p>Business, finance, and government (B)</p> Signup and view all the answers

What is the distinction between rational and behavioral economics?

<p>Approach to decision-making (B)</p> Signup and view all the answers

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