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3 For the following questions, select the key term that best matches with the definition provided. - The area of economics that deals with individual
3 For the following questions, select the key term that best matches with the definition provided. - The area of economics that deals with individual decision units- people, firms, or markets- within the economy. - A scientifically untestable belief or conclusion of what should be. - The value of other opportunities given up in order to produce or consume any good. - A scientifically testable conclusion of what is or what can be. - A basic economic condition in which our wants exceed the resources available to satisfy those wants. A. Opportunity cost B. Positive economics C. Microeconomics D. Scarcity E. Normative economics
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