Economics 101

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Which social science studies the production, distribution, and consumption of goods and services?

Economics

What does microeconomics analyze?

The behaviour and interactions of economic agents

What does macroeconomics analyze?

The economy as a system

What is the distinction between economic theory and applied economics?

Economic theory analyzes individual agents and markets, while applied economics analyzes the economy as a system

What is the distinction between positive economics and normative economics?

Positive economics describes 'what is', while normative economics advocates 'what ought to be'

Which field of economics focuses on the performance, structure, behavior, and decision-making of an entire economy?

Macroeconomics

What are some of the topics studied in macroeconomics?

Unemployment and inflation

What is the focus of analysis in microeconomics?

Single market

Which field of economics studies the interaction of markets to produce large-scale phenomena?

Macroeconomics

What are the two most general fields in economics?

Macroeconomics and microeconomics

Test your knowledge of economics with this quiz! Learn about the production, distribution, and consumption of goods and services, as well as the behavior of economic agents and how economies function. Explore microeconomics and analyze individual agents, markets, and their interactions.

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