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Economics is also research into aspects such as interest rates, inflation, gross national product and unemployment in order to predict the direction of the economy. There are different elements of the economic environment which have different importance. One of the most important elements of the economic environment is scarcity. The reality of scarcity is that the resources that we use and need to produce are limited but in fact the wants and desires of humans for goods and services are almost unlimited. This causes the production, allocation and distribution of the resources to be carefully thought about...
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