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What's the difference between microeconomics and macroeconomics?
B. Microeconomics is the study of how individuals and firms make choices, while macroeconomics is the study of all state and local government policies. C. Macroeconomics is the study of how individuals, households, firms, and governments make choices, while microeconomics is the study of the economy as a whole.
What are the three basic principles of microeconomics?
A. the government determines policies, businesses set prices, and consumers choose how much to buy. B. businesses make decisions and how those decisions impact other firms, the government, and consumers. C. agents choose to allocate scarce resources and the impact of those choices on society.
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