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   What does economics mean?

   • Economics is the study of how people seek to satisfy their needs and wants by making choices. Economics is about solving the problem of scarcity. Macro quiz 1. What is Economics? Economics is the study of how people seek to satisfy their needs and wants by making choices. Economics is about solving the problem of scarcity.

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   What is Economics Chapter 1?

   • ECON - Chapter 1 (What is Economics?) What is economics? Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices. What is Economics? What is Economics? What is economics?

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   What is economics & why is it important?

   • Economics is the study of how people seek to satisfy their needs and wants by making choices. Economics is about solving the problem of scarcity. All goods and services we produce are scarce. Scarcity implies quantities of resources to meet unlimited wants.

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   What is a basic economic problem?

   • A fundamental economic problem facing all societies. A condition that results from having scarce resources and unlimited wants of people. A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants. A basic requirement for survival. Food, water, shelter.

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2. quizlet.com › 87105096 › what-is-economics-flash-cardsWhat is Economics? Flashcards | Quizlet

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   Economics is the study of how people seek to satisfy their needs and wants by making choices. Economics is about solving the problem of scarcity.

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   Economics A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants. Need

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   Study with Quizlet and memorize flashcards containing terms like economics, want-satisfaction chain, production and more.

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   Created by. BookPrincess. Study with Quizlet and memorize flashcards containing terms like Economics, Basic economic decisions, Entrepreneur and more.

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