does microeconomic or macroeconomic activity have a bigger impact on prices in your opinion and why?
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- Explain how useful the price mechanism is in tackling the basic economic problem?What is market Value added? What is economic value added? What is the difference between what each measures?The branch of economics that studies the decisions of individuals and firms is called macroeconomics. normative economics. O positive economics. microeconomics and macroeconomics. microeconomics.
- Which economic theory argues that individuals act in their self-interest, leading to an efficient allocation of resources? a) Keynesian economics b) Classical economics c) Behavioral economics d) Neoclassical economics (Please step by step solutions)Which of the following measures how responsive demand will be to a change in price? Question 5 options: A) Pricing adjustment B) Demand extension C) Price elasticity D) Demand curveWhat is the market economy?How dothe financial marketsinteractwith product and labor markets to allocate scarce resources efficiently in the market economy?
