Examlex
Choose the best answer. The topics studied in macroeconomics include:
Opportunity Cost
The cost of what is foregone in order to pursue a certain action, essentially the benefits you could have received by taking an alternative action.
Consumer Sovereignty
The idea that consumers ultimately dictate what will be produced (or not produced) by choosing what to purchase (and what not to purchase).
Economic Problem
The issue of limited resources to meet unlimited wants and needs, requiring choices and prioritization.
Centralized Decision Making
A process where decisions are made by a few people or a single authority, rather than being dispersed among many.
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