define the points of individual choices makes and, Macroeconomics

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define the points of individual choices makes and

Define the points of individual choices makes and interact.

A. How individuals make choices:

• Scarcity

• Opportunity cost

• Trade-offs

• Marginal analysis

B. How individual choices interact:

• Trade

• Gains from trade

• Specialization

• Equilibrium

• Efficiency and equity

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