In this exercise, practice what you have learned about learning objective MOD-1.A from the AP Macroeconomics course and exam description. Topics include the definitions of economics, microeconomics, and macroeconomics, positive and normative analysis, and the four factors of production.

Concepts

macroeconomics, microeconomics, scarcity, economics

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Additional Tags

four factors of production, introduction to scarcity and the economic way of thinking, khan academy, definitions of economics, positive and normative analysis

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Classroom Considerations

• Knovation Readability Score: 4 (1 low difficulty, 5 high difficulty)
• The intended use for this resource is Practice

Common Core

RH.11-12.7