The problems
of economie
orise
duse to
scarcity of
s
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Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose. ... Economics is the study of production, distribution, and consumption of goods and services.
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Explanation:
Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose. ... Economics is the study of production, distribution, and consumption of goods and services.
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