An economy cannot produce at a point outside of its production possibilities curve because human material wants are insatiable.
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Q2: Products and services are scarce because resources
Q3: Q4: Q4: Choices entail marginal costs because resources are Q7: Individuals face an economic problem but society Q9: An economy will always operate at some Q11: The production possibilities curve shows various combinations Q12: The entrepreneur's sole function is to combine Q13: Although sleeping in on a work day Q19: Marginal analysis means that decision makers compare![]()
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