Describe at least three of the key concepts in economics introduced in Chapter 1 of the text that define how an economist views the world.
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Q1: If someone gives you a free ticket
Q4: Scarcity affects everyone,even billionaires.
Q7: Economists use the terms resource and input
Q8: In economics,capital is defined as a financial
Q11: Economists sometimes refer to the resource category
Q18: The higher the opportunity cost of doing
Q27: Scarcity occurs in both wealthy societies and
Q30: The slope of a horizontal line is
Q128: According to economists,money is a resource.
Q133: When a person is making a decision
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