REVIEW QUESTIONS

Give the three reasons that explain why the division of labor increases an economy’s level of production.
What are three reasons to study economics?
What is the difference between microeconomics and macroeconomics?
What are examples of individual economic agents?
What are the three main goals of macroeconomics?
How did John Maynard Keynes define economics?
Are households primarily buyers or sellers in the goods and services market? In the labor market?
Are firms primarily buyers or sellers in the goods and services market? In the labor market?

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UH Microeconomics 2019 Copyright © by Terianne Brown; Cynthia Foreman; Thomas Scheiding; and Openstax is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.