Identify the key concepts in Economics: scarcity, opportunity cost, comparative advantage, and externalities. Discuss the key concepts in Microeconomics. Distinguish between microeconomic and macroeconomic issues.

Economics

Identify the key concepts in Economics: scarcity, opportunity cost, comparative advantage, and externalities.

Discuss the key concepts in Microeconomics.

Distinguish between microeconomic and macroeconomic issues.

Differentiate between positive and normative economics.

Identify factors of production 6.avoid plagiarism.