Question

what are the basics in economy​

Answer 1

Answer:

While having a basic understanding of economic theory isn't perceived as being as important as balancing a household budget or learning how to drive a car.

hope it will be helpful ✌️

Answer 2

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Economics Basics – Cost, efficiency and scarcity

Going by the geeky definition, opportunity cost is the value of the next-highest-valued substitute use of that resource. ... Elasticity is defined as the change in quantity of the goods associated with a change in the prices.