Economic systems

Question 1

what are the two basic types of economics in the world today

Answer 1

microeconomics

macroeconomics

Question 2

is the study of individuals, families, and businesses in the economy

Answer 2

Microeconomics

Question 3

is the study of the economy as a whole and is concerned with large-scale economic activity

Answer 3

Macroeconomics

Question 4

studies economic behavior as it is

Answer 4

positive economics

Question 5

involves judgments of what economic behavior ought to be

Answer 5

normative economics