Microeconomics Fundamentals Quiz

Microeconomics and Macroeconomics

Basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions

The economy as a system where production, consumption, saving, and investment interact, and factors affecting it such as employment, currency inflation, economic growth, and public policies

<p>Positive economics, describing 'what is', and normative economics, advocating 'what ought to be'; between economic theory and applied economics; between rational and behavioural economics</p> Signup and view all the answers

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