The Key Principles of Economics
Make a summary of these two articles, and submit as Lesson 1.
APA format 12 new romans double spaced cited and reference
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Economics studies the choices that governments, individuals, and organizations make when resources are limited. Economics helps in answering three significant questions: what products people produce, how people produce those products, and who consumes those products. In answering these questions, economics uses assumptions and the idea of ceteris paribus while allowing people to think in marginal terms and assumes that individuals react to incentives. Economics has two branches including macroeconomics, which helps scholars understand economic fluctuations and why economies expand (Investopedia Staff, 2021). Microeconomics on the other hand helps scholars understand the market dynamics (Browning & Zupan, 2020). Contemporary economics depends on positive analysis and answers questions of both present and future…
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