Economic_environment_First_term_activity_AG

What is economics?

Give an example of assets, liability, and equity.

Give an example of opportunity cost.

Explain the concept of productivity

In the circular flow diagram, explain the roles of, Households, market for production, market for services and enterprises.

What is a competitive market?

What is demand?

What is the role of the technology in the supply?

What is a monopoly?

What is supply?