Two Scope of Economics
Cards (8)
- Is the study of the choices made by economics actors such as households, companies, and individual markets.
- How individual make economic decision.
- Examines the behavior of the entire economy.
- Choices made by large groups (like countries).
- Includes any natural resource.
- The effort that humans contribute.
- Includes machinery, tools and buildings.
- Combines land, labor and capital in new ways.