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Begin your report by establishing a conceptual framework for your audience. In other words, explain to the board the key economic principles involved in your

Begin your report by establishing a conceptual framework for your audience. In other words, explain to the board the key economic principles involved in your analysis, keeping in mind that many will not be familiar with these ideas. Be sure to define and illustrate the relevance of the following concepts: Scarcity Supply and demand Opportunity costs Competitive advantage Need vs. demand

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