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Hello I need Answers of following questions Please give me answers in Text format Thank you. 1. Define Economics. Why we study it? What are

Hello I need Answers of following questions

Please give me answers in Text format Thank you.

1. Define Economics. Why we study it? What are the factors of production.

2. Explain in detail "Diminishing Marginal Utility"

3.Using the production possibility curve model illustrate and explain the following concepts:

Opportunity cost.

Unemployment.

Inefficiency.

Economic growth.

Resource suitability

4.Recognize the importance of international trade to Canada. What areCanada's basic trade items and its principal trading partners ?

5. Analyze the role played by The Bank of Canada in the economy. With the help of the equation of exchange explain how changes in the money supply affect national income.

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