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Maro econ test 1 - Study guides, Class notes & Summaries

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Maro Econ test 1 questions & answers 2023/2024

  • Maro Econ test 1 questions & answers 2023/2024

  • Exam (elaborations) • 7 pages • 2023
  • Maro Econ test 1 questions & answers 2023/2024 Basic Economic Problem - ANSWER-Scarce Resources and Unlimited wants Purposeful Behavior - ANSWER-Frim supplys goods to satisfy consumers for profit, consumers demand goods for satisfaciton Difference Between Macro and Micro Economics - ANSWER-Macro Economics is on a large scale or national level while Micro is at the individual or company level Ceteris Paribus, Pitfalls in Economics - ANSWER-My theroy is true as long as certain variab...
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