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______ () is a social science that studies the production, distribution, and consumption of goods and services.
Economics
______ analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers.
Microeconomics
______ analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements.
Macroeconomics
Other broad distinctions within economics include those between ______ economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and behavioural economics.
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Individual agents may include, for example, households, firms, ______, and sellers.
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______ () is a social science that studies the production, distribution, and consumption of goods and services.
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______ analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers.
Signup and view all the answers
______ analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements.
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Other broad distinctions within economics include those between ______, describing 'what is', and normative economics, advocating 'what ought to be'; between economic theory and applied economics; between rational and behavioural economics.
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Between rational and ______.
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