Y10 Economics - C5 Microeconomics and Macroeconomics

What is the main focus of microeconomics?

• Particular markets and sections of the economy

• The entire economy

• Global trade

• Government policies

Which of the following is an example topic under microeconomics?

• Economic growth

• Inflation and deflation

• Fiscal policy

• Price elasticity of demand

What does macroeconomics study?

• Individual decision making

• Household spending

• Economic behavior in the whole economy

• Market structures

Which of the following is NOT a decision maker in microeconomics?

• A household

• A farmer

• A government official

• An entrepreneur

What type of data does macroeconomics tend to use?

• Anecdotal data

• Theoretical data

• Empirical data

• Historical data

Which chapter discusses the role of government in macroeconomics?

• Chapter 26

• Chapter 27

• Chapter 25

• Chapter 24

What is the study of economics primarily concerned with?

• How to increase wealth

• How to manage businesses

• How society uses its limited resources

• How to control inflation

Which of the following is a decision made in macroeconomics?

• Choosing a business model

• Deciding on crop allocation

• Government policies to eradicate poverty

• Selecting a marketing strategy

What is an example of a microeconomic factor?

• Inflation

• Supply-side policy

• Monetary policy

• Demand

Which chapter covers employment and unemployment in macroeconomics?

• Chapter 31

• Chapter 30

• Chapter 28

• Chapter 29