View Searched Set: "Economics Exam "

What are society’s economic problems?

Society’s economic problems are that resources are scarce and that people have unlimited wants.

what are the key features of economics?

The key features of economics are scarcity and choice, opportunity cost, and marginal analysis.

What are individuals economic problems?

Individuals have limited income and unlimited wants.

What are the economic principles?

The economic principles are generalizations, the other-things-equal assumption, and graphical expression.

What is economics?

he branch of knowledge concerned with the production, consumption, and transfer of wealth

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