Microeconomics

question 2

Multiple Choice

Microeconomics

• A) addresses scarcity from a global perspective
• B) examines how individuals,households,and firms make economic decisions
• C) is purely theoretical and has little value in explaining real-world phenomena
• D) focuses on what is happening in the economy as a whole
• E) answers the fundamental economic questions of how,when,where,and why

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Definitions:

Inequities

Refers to unfair, avoidable differences arising from poor governance, corruption, or cultural exclusion.

Not-For-Profit

An organization that operates for purposes other than making profit, often focused on social, educational, or charitable objectives, re-investing excess revenue in its mission.

Critical Social Theory

A framework for critiquing and changing society as a whole, focusing on the structures that create power imbalances, oppression, and inequalities.

Anti-Oppression Approach

A framework or strategy aimed at recognizing, addressing, and dismantling oppression and inequalities within society, fostering equality and justice for all groups.