Question

Class 11- Microeconomics (Chapter 1)
Plss answer the questions plss

Answer 1

Answer:

1. Choice is the outcome of scarcity

2. The study of the economy as a whole is called macroeconomics.

3. Normative economic relates study of economic issues which are subject to verification.

4. mixed economy

5. Government highly control some economies. ... In a free market economy, the law of supply and demand, rather than a central government, regulates production and labor.