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Assignment
What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.
- Exam (elaborations)
- • 3 pages •
What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.
Assignment Micro Economics
Explain briefly but clearly the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences. Remember to include explicit costs (able to be measured) and also implicit costs. Then provide an example of an opportunity cost a whole country experiences when society or the government has made a choice.
- Case
- • 2 pages •
Explain briefly but clearly the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences. Remember to include explicit costs (able to be measured) and also implicit costs. Then provide an example of an opportunity cost a whole country experiences when society or the government has made a choice.