Podcast
Questions and Answers
What is the key word in the definition of economics?
What is the key word in the definition of economics?
- Resources
- Societies
- Choose (correct)
- Individuals
Which chapter of the book discusses the reasons to study economics?
Which chapter of the book discusses the reasons to study economics?
- Chapter 3
- Chapter 4
- Chapter 2
- Chapter 1 (correct)
Which branch of economics focuses on the behavior of individual households and firms?
Which branch of economics focuses on the behavior of individual households and firms?
- Economic Skills
- Diverse fields of economics
- Microeconomics (correct)
- Macroeconomics
What is the study of how individuals and societies choose to use scarce resources called?
What is the study of how individuals and societies choose to use scarce resources called?
Which part of economics focuses on the economy as a whole?
Which part of economics focuses on the economy as a whole?
In the context of economics, which term refers to the study of how individual households and firms make decisions and how they interact in specific markets?
In the context of economics, which term refers to the study of how individual households and firms make decisions and how they interact in specific markets?
What is the term for the study of economy-wide phenomena, including inflation, unemployment, and economic growth?
What is the term for the study of economy-wide phenomena, including inflation, unemployment, and economic growth?
Which field of economics investigates the application of economic principles to decision-making in business firms?
Which field of economics investigates the application of economic principles to decision-making in business firms?
What is the study of the overall aspects and workings of an economy, such as income, output, and unemployment, known as?
What is the study of the overall aspects and workings of an economy, such as income, output, and unemployment, known as?
Which term refers to the study of the allocation of scarce resources to achieve the desired ends?
Which term refers to the study of the allocation of scarce resources to achieve the desired ends?
