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ECONOMICS
Theme | Subtitle |
---|---|
Economics | Study of how people make choices in order to satisfy unlimited needs/wants with limited resources. |
Sarcity | Unlimited Needs and wants vs Limited Resources. Forces us to make choices. |
Choices | *Picking one option over another. *Gain something *Gives something up |
Cost | Give something up |
Benefit | Gain something |
Allocate | To distribute or divide/ Split-Up |