1. Briefly define the term „economics?
2. What is a production possibility frontier?
3. Distinguish microeconomics from macroeconomics
4. What is an economic system?
5. Why is the study of economics important?
6. Explain the advantages and disadvantages of the three economic systems
7. Why should the government intervene in the economy?
8. Explain the main advantages of specialization
Attachments:demand-and-su….pdf
