01: Introduction to Economics
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13 Terms
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economics is the study of how…
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economic decisions are constrained by…
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what are the kind of resources that are required to produce goods and services?
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what does scarcity?
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what does opportunity cost tells us?
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what is a “rationing mechanism” and why is it needed?
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what are economic theories?
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ceteris paribus means…
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what is the fallacy of composition?
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what is the fallacy of association?
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positive economics is…
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normative economics…
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what are graphs used for?
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