(Solved): 5. Compare an efficient outcome vs. a fair outcome. Be specific and elaborate with examples or scen ...

5. Compare an efficient outcome vs. a fair outcome. Be specific and elaborate with examples or scenarios. 6. Why do you think trade is part of the economic principles? Be specific and elaborate with examples or scenarios. 7. What are the macroeconomic principles that can be connected to current events? Be specific and elaborate with examples or scenarios. 8. What are some key points of the chapter that are more challenging to understand? Be specific and elaborate with examples or scenarios. 9. What 3 or more principles can be connected to the Pandemic? Define the principles first and then elaborate on the way they connect. o. Create an example/scenario using 3 principles. Make sure to list and define the 3 principles first and then elaborate on the scenario. Remember that the scenario needs to be elaborate to really understand the concepts.