Economics oikos to managenemo house - social study - teaches how to use efficiently scarce resources (human, capital, money, resources) Micro-economics using resources at a firm’s level Macro-economis using resources at a national level (federal/provincial) Types: Analytical/Positive - based on facts ex. Inflation rate, growth rate, unemployment rate - normative based on opinion Fallacy - a statement that appears to be true but is not a) Fallacy of Composition - what is…
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