Major Social Institutions - Economic Institutions

Human behavior is mainly concerned satisfaction. It is centered on the task. The most absorbing interest of man. Bring about changes in the environment. This aspect of man’s activity constitutes. We cannot isolate ourselves from economics.

Microeconomics Vs. Macroeconomics

Microeconomics – concerned with the specific economic. Macroeconomics – concerned the economy as whole.

What are the basic economic problems?

1.What goods and services to produce? - certain good or services becomes profitable. 2. How to produce goods and services? - problem of production technology or methods. 3.When are the goods and services? - this is the problem of distribution.