Question: What is Macroeconomics? How does it differ from Microeconomics? Please describe the concept of scarcity. Give an example. Please explain the production possibilities curve using

What is Macroeconomics? How does it differ from Microeconomics? Please describe the concept of scarcity. Give an example. Please explain the production possibilities curve using an example. Why do we state there is always an opportunity cost to a decision? In your own words, explain the invisible hand.

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