I . Scarcity and choice are the two essential ingredients of an economic topic. Goods are scarce

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I . Scarcity and choice are the two essential ingredients of an economic topic. Goods are scarce because desire for them far outstrips their availability from Nature. Since scarcity prevents us from having as much of everything as we would like, we must choose from among the alternatives available to ns.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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