by Abeera Arshad

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics is a field which 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. Macroeconomics 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

Eco401 Latest Quiz

Created on By
Abeera Arshad

Eco401 Quiz

1 / 7

While moving from left to right, the typical production possibilities curve

2 / 7

The primary use of the kinked-demand curve is to explain price rigidity in:

3 / 7

Which of the following best expresses the law of demand?

4 / 7

If the cross price elasticity of demand between two goods X and Y is positive; it
means that goods are:

5 / 7

A welfare loss occurs in monopoly where:

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An individual whose attitude towards risk is known as:

7 / 7

A normative economic statement:

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