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1. Explain why scarcity and choice are important concepts to the definition of economics. What are the costs of choice? 2. In the coordinate system

1. Explain why scarcity and choice are important concepts to the definition of economics. What are the costs of choice? 2. In the coordinate system of graphs, there are two main relationships between two variables. With the use of numerical examples, describe these two relationships. 3. How can economics help us to better understand society

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