GR 10 Module 1

Economics is the study of how individuals, businesses and ____ make decisions to deal with the problem of ____

• countries; lack of resources

• governments; insufficient resources

• nations; scarcity

• governments; scarcity

Apart from microeconomics, what is the other main approch to economics?

A branch of economics that studies individual consumer behaviour and how businesses and customers make decisions to use scarece resources

• Development economics

• Microeconomics

• Macrieconomics

• Resource economics

From the following list, select any 2 economic concepts

• Buildings

• Trade-off

• Finite

• Country

__________ statements are based on people's opinions of what ought to be.

Define ceteris paribus in economics

Possible careers in economics include?