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

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...