Microeconomics Quiz

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Questions and Answers

What is economics?

Economics is a social science that studies the production, distribution, and consumption of goods and services.

What does microeconomics analyze?

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

What does macroeconomics analyze?

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

What are the broad distinctions within economics?

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

Where can economic analysis be applied?

<p>Economic analysis can be applied throughout society, including business, finance, cybersecurity, health care, engineering, and government.</p> Signup and view all the answers

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