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PNT chapter 1

chapter one & consumer

TermDefinition
economics economics is a social science that studies the allocation of scarce resources
needs is immediate; anything essential for life
want anything in excess of a need; not essential for survival
consumer in an individual who has the decision whether to buy goods or services
utility the benefit or satisfaction from a good or service
opportunity cost the choice foregone
Created by: bianne
Popular Economics sets

 



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