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Economics Review 2
Question | Answer |
---|---|
When we don;t have enough resources to produce all we want. It forces us to make choices. | Scarcity. |
What are the 3 economic questions. | What to produce. How to produce. For whom to produce. |
The alternative if you do one thing rather than another. | Trade-Off. |
The cost of the next best use of your time, or money |