Microeconomics Fundamentals Quiz
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Questions and Answers

What does microeconomics primarily analyze?

  • Government policies and regulations
  • Global economic trends
  • International trade agreements
  • Individual agents and markets (correct)

    • What is the focus of macroeconomics?

  • The economy as a system and its interactions (correct)
  • Micro-level economic behaviors
  • Regional economic disparities
  • Environmental impacts on the economy

    • What does rational economics primarily focus on?

  • Social decision-making and behavior
  • Emotional decision-making and behavior
  • Cultural decision-making and behavior
  • Logical decision-making and behavior (correct)

    • What are the broad distinctions within economics?

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

    What does behavioural economics emphasize?

    <p>Psychological and emotional factors in decision-making</p> Signup and view all the answers

    What does microeconomics primarily analyze?

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

    What is the main focus of macroeconomics?

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

    Which distinction within economics describes 'what ought to be'?

    <p>Normative economics</p> Signup and view all the answers

    What does behavioural economics focus on?

    <p>Psychological and emotional factors in decision making</p> Signup and view all the answers

    What are the examples of individual agents in microeconomics?

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

    What does normative economics advocate?

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

    What does behavioural economics focus on?

    <p>Human psychological factors influencing economic decisions</p> Signup and view all the answers

    What is the primary focus of microeconomics?

    <p>Analyzing individual agents and markets</p> Signup and view all the answers

    What does positive economics describe?

    <p>Describing 'what is'</p> Signup and view all the answers

    What are the examples of individual agents in microeconomics?

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

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