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ESI Unit 1 Lesson 1 - Introduction to Economics Flashcards | Quizlet

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Start studying ESI Unit 1 Lesson 1 - Introduction to Economics. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

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1. Explain that economics is a social science

2. Explain the process of model building in economics.

3. Explain that economists must use the ceteris paribus assumption when developing economic models.

4. Distinguish between positive and normative economics

5. Distinguish between microeconomics and macroeconomics.