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Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088 Exercise 1
Why does the textbook. author focus on coordination rather than on scarcity when defining economics?.
Explanation
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Verified
Coordinating human wants and desires with the available resources is more important than scarcity.
Coordination refers to how to use limited resources for unlimited wants. It also refers to how the three central economic problems (what to produce, how to produce, and for whom to produce) can be solved. Solving these economic problems is complicated, but is an important task.
Coordination refers to how to use limited resources for unlimited wants. It also refers to how the three central economic problems (what to produce, how to produce, and for whom to produce) can be solved. Solving these economic problems is complicated, but is an important task.
Macroeconomics 8th Edition by David Colander
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