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1.Find two examples of scarcity in today's headlines. 2.Find an illustration of the distinction between microeconomics and macroeconomics in today's headlines. 3.Distinguish between normative and

1.Find two examples of scarcity in today's headlines.

2.Find an illustration of the distinction between microeconomics and macroeconomics in today's headlines.

3.Distinguish between normative and positive statement and provide two examples.

4.What is marginal benefit? How is it measured?

5.What conditions must be satisfied if resources are used efficiently?

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