Time is a very valuable resource. Because there are only 24 hours in a day, it becomes a scarce resource. In terms of economics, how do you determine everything that you can do in a day? What factors do you use to prioritize the events? While thinking of opportunity costs, what do you give up in order to meet your objectives? Need 4 sentences with references

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Economics is split into two parts: Microeconomics and macroeconomics. In your own words, answer the following questions in paragraph form:

• What is the difference between microeconomics and macroeconomics?
• What types of items are studied in each discipline?
• How do you know if either is efficient?

Need 2 pages with references No Copying