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Study with Quizlet and memorize flashcards containing terms like economics, shortage, entrepreneurs and more.
define macroeconomics. the study of the total effects on the national economy and the global economy of the choices that individuals, businesses, and governments make; the major economic policy tools such as fiscal policy and monetary policy. macroeconomic example questions:
People with all their efforts, abilities, and skills. A risk-taker in search of profits who does something new with existing resources. The process of creating goods and services. The dollar value of all final goods, services, and structures produced within a country's borders in a 12-month period.
17 lip 2023 · Define economics. Explain the concepts of scarcity and opportunity cost and how they relate to the definition of economics. Understand the three fundamental economic questions: What should be produced? How should goods and services be produced? For whom should goods and services be produced?
Define economics. Explain the concepts of scarcity and opportunity cost and how they relate to the definition of economics. Understand the three fundamental economic questions: What should be produced? How should goods and services be produced? For whom should goods and services be produced?
8 paź 2024 · Study with Quizlet and memorize flashcards containing terms like factors of production, underutilization, entrpreneurship and more.
1.1 What Is Economics, and Why Is It Important? 1.2 Microeconomics and Macroeconomics; 1.3 How Economists Use Theories and Models to Understand Economic Issues; 1.4 How To Organize Economies: An Overview of Economic Systems; Key Terms; Key Concepts and Summary; Self-Check Questions; Review Questions; Critical Thinking Questions
