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Interest choices - PowerPoint PPT Presentation

Chapter 1:

Chapter 1:. What is Economics?. Objectives. After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics Explain the big questions of economics Explain the key ideas that define the economic way of thinking

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MICROECONOMICS

MICROECONOMICS. 2014-3 Cheryl Fu. Definition of Economics. All economic questions arise because we want more than we can get. Our inability to satisfy all our wants is called scarcity . Because we face scarcity, we must make choices . The choices we make depend on the incentives we face.

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Interest choices - PowerPoint PPT Presentation

Chapter 1:

MICROECONOMICS