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Principles of Economics
- hazelnadinehar citeretfor 7 år siden
The opportunity cost of an item is what you give up to get that item. - hazelnadinehar citeretfor 7 år sidenMaking decisions requires trading off one goal against another.
- hazelnadinehar citeretfor 7 år sidenscarcity
the limited nature of society’s resources - hazelnadinehar citeretfor 7 år sidenScarcity means that society has limited resources and therefore cannot produce all the goods and services people wish to have.
- Rycko Andhikahar citeretfor 7 år siden
http://academic.cengage.com/economics/mankiw. - Rycko Andhikahar citeretfor 7 år sidenPRINCIPLE 10: SOCIETY FACES A SHORT-RUN TRADE-OFF BETWEEN INFLATION AND UNEMPLOYMENT
- Rycko Andhikahar citeretfor 7 år sidenPRINCIPLE 9: PRICES RISE WHEN THE GOVERNMENT PRINTS TOO MUCH MONEY
- Rycko Andhikahar citeretfor 7 år sidenPRINCIPLE 8: A COUNTRY’S STANDARD OF LIVING DEPENDS ON ITS ABILITY TO PRODUCE GOODS AND SERVICES
- Rycko Andhikahar citeretfor 7 år sidenRINCIPLE 8: A COUNTRY’S STANDARD OF LIVING DEPENDS ON ITS ABILITY TO PRODUCE GOODS AND SERVICES
- Rycko Andhikahar citeretfor 7 år sidenPRINCIPLE 7: GOVERNMENTS CAN SOMETIMES IMPROVE MARKET OUTCOMES
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