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Economics What is it and how does it affect me? Divisions of economics Microeconomics Study of choices made by individual economic actors. Macroeconomics Study of the ...

Economics The study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided.

Economics Scarcity A word economists use to describe the conflict between people s desires and limited resources. The foundation for all economics.

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The “definition” of economics is that the part of currency and financial. Another, it is the study of currency and financial institutions. Basically, Economics relates to consumers, households and corporations.

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Introduction to Economics The Basic Concepts of Economics

Title: Economics in PHS Author: JC Last modified by: LFun Created Date: 10/14/2006 9:03:45 AM Document presentation format: On-screen Show (4:3) Other titles

Recession. Boom' Characteristics of Economic Fluctuations ... Adverse shifts in aggregate supply cause stagflation a combination of recession and inflation. ...

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What is Economics? The fundamental economic problem Scarcity is: the fundamental problem in economics. People and societies have unlimited wants, but the resources we ...

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Chapter 1 What is Economics? Section 1-1: The Basic Problem in Economics What is economics? The study of how people satisfy their unlimited wants and needs with ...

What is Economics Chapter 1 Economics The study of how people satisfy wants with scarce resources. (Noble Prize winning Economist Milton Friedman) Scarcity The ...