CHAPTER WHAT IS ECONOMICS? 1 CHAPTER OUTLINE Economics‚ Scarcity‚ and Choice Scarcity and Individual Choice Scarcity and Social Choice Scarcity and Economics The World of Economics Microeconomics and Macroeconomics Positive and Normative Economics Why Study Economics? To Understand the World Better To Gain Self-Confidence To Achieve Social Change To Help Prepare for Other Careers To Become an Economist The Methods of Economics The Art of Building Economic Models Assumptions and Conclusions
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