Microeconomics Quiz
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Questions and Answers

What does microeconomics primarily analyze?

  • Factors affecting employment
  • Individual agents and markets (correct)
  • The economy as a system
  • Positive and normative economics

    • What does macroeconomics primarily analyze?

  • Positive and normative economics
  • Individual agents and markets
  • Factors affecting employment
  • The economy as a system (correct)

    • What is the distinction between positive and normative economics?

  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Rational vs behavioural economics
  • Economic theory vs applied economics
  • Factors affecting employment vs economic growth

    • What are the primary elements analyzed in microeconomics?

    <p>Individual agents and markets</p> Signup and view all the answers

    What are the primary elements analyzed in macroeconomics?

    <p>Production, consumption, saving, and investment interact</p> Signup and view all the answers

    What does economics primarily focus on?

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

    What does microeconomics primarily analyze?

    <p>Individual agents and markets, their interactions, and the outcomes of interactions</p> Signup and view all the answers

    What does macroeconomics primarily analyze?

    <p>The economy as a system where production, consumption, saving, and investment interact</p> Signup and view all the answers

    What is the distinction between positive and normative economics?

    <p>Positive economics describes 'what is', while normative economics advocates 'what ought to be'</p> Signup and view all the answers

    What are the primary elements analyzed in macroeconomics?

    <p>Production, consumption, saving, and investment</p> Signup and view all the answers

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