Answer:

1.Governments may also intervene in markets to promote general economic fairness. Maximizing social welfare is one of the most common and best understood reasons for government intervention. Examples of this include breaking up monopolies and regulating negative externalities like pollution.

2.Broadly, economic welfare is the level of prosperity and standard of living of either an individual or a group of persons. In the field of economics, it specifically refers to utility gained through the achievement of material goods and services.

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4.The main difference between microeconomics and macroeconomics is scale. Microeconomics studies the behavior of individual households and firms in making decisions on the allocation of limited resources. ... Macroeconomics is the study of economies on the national, regional or global scale.

5.They have a unique schedule for their release hence investors can prepare and plan on being able to access certain information at a specific time. Also, they indicate the direction of an economy. Analysts use them to predict the possibility of investing in the future. Only used with correct interpretation