ECO 182 EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS VERIFIED LATEST UPDATE
economics
the social science that studies the choices that individuals, businesses, governments,
and entire societies make as they cope with scarcity and the incentives that influence
and reconcile those choices
microeconomics
the study of choices that individuals and businesses make, the way those choices
interact in markets, and the influence of governments
Macroeconomics
the study of the performance of the national and global economies
self-interest.
choices that you think are best for you.
social interest
Choices that are best for society as a whole
efficient
if it is not possible to make someone better off without making someone else worse off.
equity
fairness, but economists have a variety of views about what is fair
Globalization
means the expansion of international trade, borrowing and lending, and investment
Information Revolution
SOLUTIONS VERIFIED LATEST UPDATE
economics
the social science that studies the choices that individuals, businesses, governments,
and entire societies make as they cope with scarcity and the incentives that influence
and reconcile those choices
microeconomics
the study of choices that individuals and businesses make, the way those choices
interact in markets, and the influence of governments
Macroeconomics
the study of the performance of the national and global economies
self-interest.
choices that you think are best for you.
social interest
Choices that are best for society as a whole
efficient
if it is not possible to make someone better off without making someone else worse off.
equity
fairness, but economists have a variety of views about what is fair
Globalization
means the expansion of international trade, borrowing and lending, and investment
Information Revolution
