Microeconomics Fundamentals Quiz
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Questions and Answers

What does microeconomics analyze?

  • Overall economy as a system
  • Currency inflation and economic growth
  • Factors affecting employment
  • Individual agents and markets (correct)

    • What is the focus of macroeconomics?

  • Analysis of individual agents and markets
  • Economy as a system with interactions of production, consumption, saving, and investment (correct)
  • Factors affecting employment and resources
  • Currency inflation and public policies

    • What does normative economics advocate?

  • "What is"
  • Rational economic theory
  • "What ought to be" (correct)
  • Behavioural economics

    • What does behavioural economics focus on?

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

    What are the broad distinctions within economics?

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

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