Macroeconomics
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9 Terms
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Define Economics
How to best use teh scare resources to sastify unlimicted human wants.
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Define MicroEconomics
How companies makes the best decissons to use scare resources ro satasify unlimited human wants.
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Whats the Problem and solution of Economics
Scarcity of recsours and Effiecency.
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4 Economic resources
Labor, Capital, Land, Entrepreneurial abaility
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Define Oppurnity Cost
Whatever you gove up to obtain something
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Note 
Flashcards (106)