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1.Briefly explain why economics is primarily a subject of making 'decisions' by individuals (households) and businesses (firms). 2.In the economic system, who is the buyer

1.Briefly explain why economics is primarily a subject of making 'decisions' by individuals (households) and businesses (firms).

2.In the economic system, who is the buyer in the Resource Market?

See the attached production possibilities curve (PPC) for questions 3 to 7.

\fPrice of Pizza Supply ($/slice) $3 equilibrium ---- Demand - 8 Quantity of Pizza (slices)

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