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Microeconomics Fundamentals Quiz

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Questions and Answers

What are the broad distinctions within economics?

Rational economics and behavioural economics

Positive economics and normative economics (correct)

Economic theory and applied economics

Mainstream economics and heterodox economics

What does microeconomics analyze?

The economy as a system where production, consumption, saving, and investment interact

Individual agents and markets, their interactions, and the outcomes of interactions (correct)

Public policies that have an impact on economic growth

Factors affecting employment of the resources of labour, capital, and land

Where can economic analysis be applied?

Science, the environment, engineering, and public policies

Crime, education, the family, feminism, and law

Business, finance, cybersecurity, health care, and government (correct)

Philosophy, politics, religion, social institutions, and war

What does macroeconomics analyze?

<p>The economy as a system where production, consumption, saving, and investment interact</p> Signup and view all the answers

What are the distinctions within economics between?

<p>Rational and behavioural economics</p> Signup and view all the answers

Study Notes

What are the broad distinctions within economics? What does microeconomics analyze? Where can economic analysis be applied? What does macroeconomics analyze? What are the distinctions within economics between?

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Description

Test your knowledge of microeconomics with this quiz! Explore the fundamental elements of the economy, including individual agents and markets, their interactions, and the outcomes of those interactions. See how well you understand the behavior and interactions of economic agents in the context of microeconomics.