Microeconomics explores the allocation of scarce resources from the perspective of small economic units such as consumers and firms.
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Q1: Living in a world of scarcity involves
Q3: When people make choices they typically know
Q4: Economists believe that most people's actions are
Q5: Economists believe that only a small part
Q6: Scarcity applies to decision makers in macroeconomics
Q7: Self-interest could never include benevolence.
Q8: Scarcity forces us to choose, and choices
Q9: Since resources are abundant, we do not
Q10: A good economic theory is always more
Q11: Wealthy consumers do not have to make
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