Theory of Consumer Choice and Frontiers of Microeconomics 2

Answer each question in a paragraph with a 200 + word counts.  If citing please include reference

  1. Are consumer choice and the economy related?  Will less consumer choice lead to a better economy?
  2. Consider for thought the following questions: Do all demand curves slope downward? How do wages affect labor supply? How do interest rates affect household savings?
  3. Consider the term the Ten Principles of Economics and how it’s applied to the consumer buying trends.
  4. As we move even more to a global economy, will the wealth of individuals rise or fall?  How can governments of countries improve inhabitants’ lives and standards of living?
  5. Consider the term asymmetric information in order to understand why some people are better informed than others, and the imbalance in information affects the choices they make and how they deal with one another.
  6. How do we measure economic growth?  What kinds of things lead to economic growth?

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