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Explain the difference between microeconomics and macroeconomics What is positive economics? What is normative economics? Give an example of each. Describe scarcity and how it
- Explain the difference between microeconomics and macroeconomics
- What is positive economics? What is normative economics? Give an example of each.
- Describe scarcity and how it relates to opportunity cost. Give an example of a scarce resource.
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