Microeconomics Fundamentals Quiz
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Questions and Answers

What does microeconomics primarily analyze?

  • International trade dynamics
  • Government policies and regulations
  • Macroeconomic indicators
  • Individual agents and markets (correct)
  • What is the focus of macroeconomics?

  • Interactions of production, consumption, saving, and investment (correct)
  • Behaviour and interactions of economic agents
  • Factors affecting employment and inflation
  • Analysis of individual agents and markets
  • What is the distinction between positive economics and normative economics?

  • Distinguishing rational vs behavioural economics
  • Comparing economic theory vs applied economics
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Analyzing microeconomics vs macroeconomics
  • What are the examples of individual agents in microeconomics?

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

    What does behavioral economics study?

    <p>Psychological and emotional factors influencing economic decisions</p> Signup and view all the answers

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