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Microeconomics Quiz
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Microeconomics Quiz

Created by
@VirtuousMonkey

Questions and Answers

What does microeconomics primarily analyze?

  • Global economic systems
  • Macroeconomic indicators
  • Individual agents and markets (correct)
  • International trade policies

    • Which factors does macroeconomics analyze as part of the economy?

  • Environmental sustainability
  • Production, consumption, saving, and investment (correct)
  • Social and cultural influences
  • Technological advancements only

    • What is the distinction between positive economics and normative economics?

  • Describing 'what ought to be' vs advocating 'what is'
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Describing 'what is' vs predicting 'what might be'
  • Advocating 'what is' vs describing 'what ought to be'

    • What does rational economics primarily focus on?

    <p>Logical decision-making by economic agents</p> Signup and view all the answers

    What does behavioural economics study?

    <p>Psychological factors influencing economic decisions</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>Economy as a system and its interactions</p> Signup and view all the answers

    What is the distinction between positive economics and normative economics?

    <p>Describing 'what is' vs. advocating 'what ought to be'</p> Signup and view all the answers

    What are the economic agents analyzed in microeconomics?

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

    What do behavioural economics primarily focus on?

    <p>Psychological and emotional factors influencing economic decisions</p> Signup and view all the answers

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