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Economics is essentially the study of how manage limited resources to satisfy unlimited wants.

We act based on rewards or punishments. Prices, taxes, and subsidies are the primary ways the economy nudges our behavior. 📈 Two Ways to Look at "Us" economicsandwe

We usually decide based on the "next" unit. (e.g., "Is the extra hour of sleep worth the extra stress of being late?"). 2. Macroeconomics (The Big Picture) Economics is essentially the study of how manage

Since we can’t have everything, every choice has a cost—the value of the "next best thing" you gave up. 📈 Two Ways to Look at "Us" We

A central authority (the government) decides what is produced and at what price.

Economists split the world into two main views to understand how we function: 1. Microeconomics (The Small Scale) Focuses on how individuals and businesses make decisions.

Focuses on how we perform collectively as a nation or the world. The total value of everything we produce.