C719 - Macroeconomics - Study Guide Questions V2 The following questions are developed as a study aid for C719 - Macroeconomics. They cover important concepts in each competency. After reading the material for each competency, use these questions to reinforce your understanding and review further as necessary. There is no answer key; however, your Course Instructor will be happy to go over these with you.You can download a Word version of these questions at the bottom of the page.

Competency 1: The Economic Way of Thinking

Module 1

1. What is scarcity in economics and how does it influence choices?
2. Scarcity is the inability to satisfy everyones wants; it affects choices made by individuals and businesses in the face of unavailability of unlimited resources. Without scarcity,...