Microeconomics and Macroeconomics
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Questions and Answers

Which of the following is NOT a key component of the economic perspective?

  • Marginal analysis by comparing the marginal benefits and marginal costs
  • Scarcity and choice
  • Opportunity cost
  • Purposeful behavior to increase utility (correct)

    • What is the main focus of microeconomics?

  • Opportunity cost
  • Scarcity and choice
  • Individuals and institutions making rational decisions (correct)
  • Marginal analysis

    • What is the main focus of macroeconomics?

  • Marginal analysis
  • Opportunity cost
  • Scarcity and choice (correct)
  • Individuals and institutions making rational decisions

    • What is the economic problem faced by individuals?

    <p>Scarcity and choice</p> Signup and view all the answers

    What is the economic problem faced by society?

    <p>Scarcity and choice</p> Signup and view all the answers

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