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 (A)</p> Signup and view all the answers

What are the primary elements analyzed in macroeconomics?

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

What does economics primarily focus on?

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

What does microeconomics primarily analyze?

<p>Individual agents and markets, their interactions, and the outcomes of interactions (B)</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 (A)</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' (D)</p> Signup and view all the answers

What are the primary elements analyzed in macroeconomics?

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

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