Answer:
see below
Step-by-step explanation:
Economics is a social study on how individuals, firms, and governments make choices amid scarcity. It is concerned with how society allocates its scarce resources in the production, distribution, and consumption of goods and services. Mr. Crimpson studies how to use limited resources efficiently to meet the different but many needs in society.
Economics is divided into macroeconomic and Macroeconomics. Under macroeconomics, Mr. Crimpson studies the performance, behavior, and decision-making of the entire economy. He focuses on the aggregate changes in inflation, unemployment rate, growth rate, GDP, and prices. In microeconomics, Mr.simpson concentrates on how individuals and households' choices affect demand and supply in the market.