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My Econ EBook by Jana

by Jana M. AlSafi

Pages 2 and 3 of 128

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Economics
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It is the study of how individuals and communities choose to assign scarce resources.
Comic Panel 1
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A branch of economics that discusses how the society or government behaves.

examples
- covid-19
- global warming
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Macroeconomics
Comic Panel 2
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The study of how an individual makes a choice and how will this choice respond.

examples
- consumers
- one company's problem
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Microeconomics
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CHOICE
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It is the selection or the decision of an individual of what he or she decides about what to select about desired goods and services which are limited.
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Unlimited Resources
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Limited Resources
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Wants and Needs
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Goods and Services