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Yesterday we learned about economics, the branch of knowledge concerned with the production and transfer of wealth, I wonder what we will learn today
A shortage is a state or situation in which something needed cannot be obtained in sufficient amounts.
And a scarcity is a naturally occurring limitations on resource that cannot be replenished
One of the factors of production is human capital, the skills, knowledge, and experience possessed by an individual or population
An opportunity cost is the loss of potential gain from other alternatives when one alternative is chosen.
A pros and cons list shows the good and bad of every sitution
A table used to evaluate alternatives based on criteria for the purpose of making a decision.
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