An increase in the minimum wage will result in the retrenchment of employees with limited skills.

An increase in the budget deficit will result in higher interest rates.

Dog ownership should be banned in order to solve the problem of rabies.

An increase in the prices of petroleum and flour would result in the price increase of basic commodities.

Mang Boy increased the prices in his canteen.

Ana found employment.

A rollback in petroleum price in the Philippines.

Growth in the national income.

Shoe factories shut down in Marikina.

These are the things that have value or price like food, clothing, and shelter.

These are the things that do not have value like air, water, and sunlight.

It is centered on studying the small unit of the economy.

It is the study of the behavior of the entire economy.

He is the "Father of Modern Economics".

He was known for his brilliant ideas about the effects of natural resources like land on the development of the economy.

He discussed the effects of the rapid increase in population.

He was considered the "Father of Macroeconomics".

He was the "Father of Communism".

These are statements that describe reality or what is happening.

These are statements that describe how a society should be.