Waterloo Financial Literacy Competition | Week 5

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4 Terms

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Economics:

The study of how people, businesses, and governments make decisions about money, resources, goods, and services.

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Macroeconomics:

Looks at the economy of an entire country or even the world
(Examples: Inflation, unemployment, economic growth, etc)

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Microeconomics:

Looks at decisions made by individuals, households, and businesses.
(Examples: Buying a new video game, how many employees you hire, a family deciding how to spend there budget, etc)

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