Author Question: The perpetual problem of scarcity forcing people to make choices is the basis for the definition of ... (Read 62 times)

Jkov05 · **on:** Jun 30, 2018

The perpetual problem of scarcity forcing people to make choices is the basis for the definition of economics.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Economists use ____ economic analysis to understand an individual market. They then use ____ economic analysis to guide future national economic policy.
a. b and d b. macro; micro
c. positive; normative d. normative; positive