Ch1 Economic Vocab

Microeconomics - The study of the choices made by economic actors such as households, companies, and individual(a) markets. or the study of the economic decisions and actions of individual slew, companies, etc. additional Info --------------------- muckle focus on round participants in the economy. for example, the production at one company-even one as adult as Exxon Mobil Corporation whose numerate output [the amount of something that is produced by a person or thing] exceeds [beyond limit of] that of some nations. -------------------------------------------------------------------------------------------------------------------------------------------------- Macroeconomics - examines the way of entire economics. aka the study of the large economic systems of a rural or region. Additional Info ----------------------- for example, unemployment in the U.S. is a macroeconomic topic.

-------------------------------------------------------------------------------------------------------------------------------------------------- Consumers - The people who decide to buy things --------------------------------------------------------------------------- Producers - The people who make the things that reward consumers take and wants -------------------------------------------------------------------------------------------------------------------------------------------- Consumers choose what to buy, and producers choose what to submit and how to provide it. This profit of decisions is the basis of all economic systems. all society just about the world has an economi c system, whether that society consists of a! similarity or a nation. -------------------------------------------------------------------------------------------------------------------------------------------- You make economic decisions based on your needs and want, which reflect your desires for certain goods and services....If you want to get a simple of the mark essay, order it on our website: OrderCustomPaper.com

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