1. What is the basic recipe for economic growth?
2. What must markets do to encourage macroeconomic growth?
3. Set forth and briefly describe 3primary goals of economics.
4. How do most economists describe technology?
5. What is a business cycle trough, and what is a business cycle peak?
6. Describe the two primary components that are combined to bring abouttechnological change.
7. With respect to a growing population,why is economic growth important?
8. What is the difference between Microeconomics and Macroeconomics?
9. What role does the protection of property rights play in the discovery of new things?
10. What is the meaning of standard of living,and what role does the economy play in people enjoying either a higher or lower standard of living?