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Economics > Chapter 1: The foundations of economics (Introduction) > Flashcards

Chapter 1: The foundations of economics (Introduction) Flashcards

1
Q

Economics revolves around…

A

scarcity

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2
Q

Scarcity

A

unlimited wants but limited resources

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3
Q

Opportunity Cost

A

The cost of the next best alternative foregone

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Economics (3 decks)

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