Economics

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  • Economics: Scientific study of how individuals meet unlimited needs and wants with limited resources. 
  • Services: Items that are consumed when produce
  • Scarcity- there are limited amounts of goods and services to meet  unlimited wants
  • I don't understand
  • Choices- what are theyand how they affect economics
  • Labor is the effort people devote to tasks for which they are paid. 
  • Economics: Scientific study of how individuals meet unlimited needs and wants with limited resources.  
  • Services: Items that are consumed when produce 
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