https://blog.udemy.com/difference-between-micro-and-macro-economics/ (Links to an external site.)
https://www.youtube.com/watch?v=AV_p_Qntyw (Links to an external site.)
1) Give 3 reasons that explain why the division of labor increases an economy's level of production. Please answer this question in one paragraph of about 150 words.
2) Explain why scarcity leads to trade-offs. Please answer this question in one paragraph of about 150 words.
3) Identify which of the following would be studied as a part of microeconomics, and which would be studied as a part of macroeconomics. You may do this quite briefly. Simply list the letters A thru J - and write "micro" or "macro" next to each one.