Micro or Macro

A family is unable to afford both a holiday and a new car, they need to choose what to spend their budget on.

• microeconomics

• MACROECONOMICS

Measuring how many goods and services a nation produces in total

• microeconomics

• MACROECONOMICS

Economists are trying to determine the impact of a new government policy on the unemployment rate

• microeconomics

• MACROECONOMICS

A bicycle company is trying to determine how many bicycles it should produce to maximise its profits.

• microeconomics

• MACROECONOMICS

A country's central bank is deciding what interest rate to set to control inflation?

• microeconomics

• MACROECONOMICS

A worker is deciding whether to work full time or part time

• microeconomics

• MACROECONOMICS

Economics is the study of how humans make decisions in the face of ________

In economics, scarcity means that there are...

• limited resources and limited wants

• unlimited resources and limited wants

• limited resources and unlimited wants

• unlimited resources and unlimited wants