Podcast
Questions and Answers
What are the broad distinctions within economics?
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?
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?
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?
What does macroeconomics analyze?
What are the distinctions within economics between?
What are the distinctions within economics between?
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.
