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Economic Concepts Worksheet 3

Economic Concepts Worksheet

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Title: Economic Concepts Worksheet

Essay Details:

Subject: Business

Author:

Date: May 7, 2014

Level: University

Grade: C

Length: 3 / 642

Essay text:

If somehow people desired nothing, there would be no scarcity. If resources were great enough to produce more than anyone desired, there would also be no scarcity Consumers have to make choices between different options because the resources necessary to fulfill their wants are limited, this happens all over the world. These decisions are made by giving up (trading-off) one want to satisfy another. When I was a child in the 80’s there was sugar and rice scarcity because employees at the manufacturing companies in the Coast of Peru where on strike then grocery stores sold the products at 1 pound per person...

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