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What would be an example of a "system" in the real world serve as a metaphor for macro and microeconomics?

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Alice Sejake
Alice SejakeLv10
28 Dec 2020
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Principles of Economics
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Related questions

What would be another example of a "system" in the real world serve as a metaphor for micro and macroeconomics?

What is the difference between microeconomics and macroeconomics?

a. Macroeconomics deals with abstract economic theories, while microeconomics applies those theories to the real world.

b. Microeconomics looks at economic systems in a vacuum, while macroeconomics looks at how those systems interact with one another.

c. Microeconomics deals with economics on the level of individuals or businesses, while macroeconomics deals with economics on the level of states or countries.

d. Macroeconomics looks at the history of economics, while microeconomics is concerned with the present and the future.

1.Illustrate (in words) the concept by using it in an analogy or a metaphor. Your response must contain at least 2 elements; (the concept is structural unemployement)

The analogy or metaphor

A brief explanation of why you see a parallel between the two things you are comparing

2.Use the concept in a contextualized and specific question. In other words, you are being asked to compose a question using the concept. To provide context, the question may be preceded or followed by a brief statement,

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