1.Explain how economists address the problem of
2. Explain how economists use theories and models
to understand economic issues and economic
3. Distinguish between micro and macro-economics
1. What is Economics and why is it so important?
Economics is the analysis of how humans make decisions without taking in to account the
amount of resources that are available. The studying of economics provides a systematic
approach to evaluating and und
The following information describes the value Lori Landlord places on having her five apartment
houses repainted. She values the repainting of each apartment house at a different amount
depending on how badly it needs repainting.
Value of new paint on 1st