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The Nature of Economics

Economics

9 Pages Partial Study Notes Year: Pre-2018

Introduction to the economic problem up to the Production Possibility Curve - Economics - is the study of the production making goods and services , distribution how goods are given out and exchange barter of goods and services in an economic system stability, all economic systems are run differently. It involves the study of the problem of scarcity limited, rare, lack of of resources land, enterprise, capital, labour in relation to human wants tangible. Economics - is a social science which studies the way in which people and society use scare resources to produce goods and services and distribute them among various groups in society.


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