Economics is best defined as how people use scarce resources to satisfy unlimited wants.
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Q2: In economics, money is an example of
Q3: Profit is the payment received by resource
Q13: Rent is the payment received by resource
Q38: Resources are used only in the production
Q43: The assumption of rational self-interest does not
Q57: Considering both product markets and resource markets,
Q118: Labor and capital are exchanged in the
Q129: Rational self-interest is equivalent to pure selfishness.
Q168: An economist would classify 100 shares of
Q170: Labor is the physical and mental effort
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