DISS Quiz 2

Who was one of the key figures who did not use science to justify racism.

Greek words: oikos______and nomos (custom or law), referring to the rules implemented in the household to ensure its efficient management.

Focuses on analyzing the determinants of national income.

Focuses on small -scale market interactions that transpire between individuals consisting of business firms and households.

It focuses on the interconnection of concepts like institutions, history, and social structure.

Focuses on understanding the interconnections between the concepts of rationality, individualism, and equilibrium.

An umbrella term that refers to the explanation and understanding of the process and interactions related to the production and consumption of goods within a market system.

Viewed as the descriptive form of economics wherein its chief aim is to describe and explain economic phenomena and behavior.

Utilizes economic theories and formulas to real-world scenarios with the goal of predicting possible events that would affect the individuals within the economic system.

Is often associated with welfare economics, as it is focused on providing explanations and arguments on how economic policies should be.