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Economics Basics: Supply and Demand

1) Economics is the study of how scarce resources are used to satisfy unlimited wants. 2) Individuals and societies must make choices about how to use limited resources to produce, distribute, and consume goods and services. 3) Economic decisions involve costs such as what is given up when making a choice.

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gi peh
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0% found this document useful (0 votes)
6 views7 pages

Economics Basics: Supply and Demand

1) Economics is the study of how scarce resources are used to satisfy unlimited wants. 2) Individuals and societies must make choices about how to use limited resources to produce, distribute, and consume goods and services. 3) Economic decisions involve costs such as what is given up when making a choice.

Uploaded by

gi peh
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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