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Instead of getting the burger we are going to get the pizza, because it is cheaper.
We are going to make a trade off for what we should eat.
I want to play basketball, but I need to do my homework.
I am going to put effort towards completing this task to get paid. This is also known labor.
I am an entrepreneur, because I own Microsoft - Bill Gates
There is a limited amount of soccer balls on this field. This is scarcity.
You must know the factors of production in order to be a good business owner.
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