1. What is the fundamental economic problem that exists in society?

2.Explain what is opportunity cost and how can we weigh our options?

3. Discuss how competition works in our society and how companies have to keep in the competitive world?

4.How does diminishing returns work in our economic environment?

5.Discuss positive and normative statement and give an example of each.

6. What is microeconomics qnd macroeconomics and give 2 examples of each.