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Write the letter of the correct answer in the blank provided Not all of the choices will be used 1. Work for which a person is paid b.
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Scarcity and the Science of Economics THE FUNDAMENTAL ECONOMIC PROBLEM SCARCITY is the basic economic problem of how to meet peoples seemingly unlimited wants with scarce resources.
A situation that occurs when a producer cannot offer a particular good or a. Explain the role of entrepreneurs. Explain why scarcity and choice are the basis of economics. Key Terms and Concepts Directions. Mar 4 2013 Total Attempts. This basic problem affects almost every economic decision people make as buyers and as sellers.
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