Criado por marvin bikaba
quase 7 anos atrás
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Questão | Responda |
What is economics?
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Economics (image/jpeg)
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Study of choice and decision making in a world with limited resources |
Demand | Quantity of a good households are willing to buy in a market |
Supply | Quantity of a good firms are prepared to sell in a market |
Microeconomics
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Microeconomics (image/jpeg)
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examines choices and behaviour individual consumers, firms, and markets in the economy |
Macroeconomics | examines the economy as a whole |
Normative Statement | A value judgment and or opinion that cannot be scientifically tested. Based on ones values |
Positive Statement | A statement that can be scientifically tested and possibly falsified |
DEFRA as an acronym stands for? | Department for Environment, Food and Rural Affairs (DEFRA) |
What do economists do? | - economist act as private consultant - central and local government |
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