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Define economics. Explain the concepts of scarcity and opportunity cost and how they relate to the definition of economics. Understand the three fundamental economic questions: What should be produced? How should goods and services be produced? For whom should goods and services be produced?
Course: AP®︎/College Macroeconomics > Unit 1. Quiz 1. Quiz 1 Basic economics concepts. Economics. AP®︎/College Macroeconomics.
17 lip 2023 · Explain the concepts of scarcity and opportunity cost and how they relate to the definition of economics. Understand the three fundamental economic questions: What should be produced? How should goods and services be produced?
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