economics and its importance, micro and macroeconomics, inflation, monetary policy, and exchange rates.

1.  Define economics and explain why it is an important field of study. Give two examples
2.  Differentiate between micro and macroeconomics. Give 2 real-life scenarios
3. Define inflation. What are its main causes? Give at least 2 examples 
4. What are the main tools of monetary policy? Give examples. 
5. Define exchange rates and explain how they are determined. Give concrete examples (2). 
PLEASE DO NOT USE AI (ARTIFICIAL INTELLIGENCE)