Microeconomics Quiz

The main focuses of economics are the production, distribution, and consumption of goods and services.

Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.

Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it.

<p>Households, firms, buyers, and sellers are examples of individual agents in microeconomics.</p> Signup and view all the answers

<p>The broad distinctions within economics include those between positive economics and normative economics, between economic theory and applied economics, and between rational and behavioural economics.</p> Signup and view all the answers