Illustrate what are elements of circular-flow diagram

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Q. Illustrate what kinds of questions does economics address?

Illustrate what are principles of how people make decisions?

Illustrate what are principles of how people interact?

Illustrate what are principles of how economy as a whole works?

Illustrate what are economists' two roles? How do y differ?

Illustrate what are models? How do economists use m?

Illustrate what are elements of Circular-Flow Diagram? Illustrate what concepts does diagram illustrate?

How is Production Possibilities Frontier related to opportunity cost? Illustrate what or concepts does it illustrate?
Illustrate what is difference between microeconomics and macroeconomics and between positive and normative?

Reference no: EM1367847

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