ECON (1~3 paragraphs)

1) Briefly explain the two broad subfields of economics. Then, name and describe a concept/policy/area that is often associated with subfield one and a concept/policy/area that is often associated with subfield two.

2) How does adding a tax affect the price paid by buyers and the amount received by sellers)? Please provide a real-world example of an added tax to a product, group of products OR industry.

3 )In ur own words, briefly describe perfectly competitive firms, monopolistically competitive firms, and oligopoly firms. Compare and contrast the three types of firm behavior.