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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

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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 ...