Question

Based on the lesson, how are individuals and economies similar?

Answer 1

Heya....

Individual persons also do the economical activities such as production, consumption and so on..

So their wants and satisfaction also a part of economics and individual wants and satisfaction we studied under the concepts of Microeconomics...

Answer 2

Economics will always focus of what to produce ,pricing of commodities which are usually consumed by both classes,the rich and the poor.Individuals will therefore be d3manding to the availability of what economies produces for their consumption and at what prices do the economies charge the consumer goods.