What are the main characteristics of the market system

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1. What are the main characteristics of the market system? How does the market system answer the five fundamental questions? What are the mechanics of the circular flow model?

2. What is an opportunity cost and how does the idea relate to the definition of economics? What are the differences between macroeconomics and microeconomics? What are unemployment and inflation and how do these concepts relate to economic growth?

3. In what ways can the informal organization, norms, and values of an organizational culture affect the shape of an organization? What is your reasoning?

Reference no: EM132203365

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