Microeconomics Fundamentals Quiz
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Questions and Answers

What are the broad distinctions within economics?

  • Factors affecting employment and economic growth
  • Rational and behavioural economics
  • Economic theory and applied economics
  • Positive economics and normative economics (correct)
  • What does macroeconomics analyze?

  • Factors affecting employment
  • The economy as a system (correct)
  • Individual agents and markets
  • Currency inflation and economic growth
  • What does microeconomics analyze?

  • Individual agents and markets (correct)
  • Currency inflation and economic growth
  • Factors affecting employment
  • Overall economy as a system
  • What is the focus of economics?

    <p>Production, distribution, and consumption of goods and services</p> Signup and view all the answers

    What is the distinction between economic theory and applied economics?

    <p>Economic theory deals with principles, while applied economics uses these principles in real-world situations</p> Signup and view all the answers

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