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Questions and Answers
What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
- Environmental impacts on the economy
- Government policies and regulations
- Individual agents and markets (correct)
- Global economic trends
What is the main focus of macroeconomics?
What is the main focus of macroeconomics?
- Regional economic disparities
- The economy as a system and factors affecting it (correct)
- Technological advancements in the economy
- International trade dynamics
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Focusing on individual agents vs focusing on government policies
- Analyzing past economic data vs predicting future economic trends
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Studying microeconomics vs studying macroeconomics
What is the focus of economic theory?
What is the focus of economic theory?
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What does behavioural economics primarily study?
What does behavioural economics primarily study?
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