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Discuss why the basic economic problem is scarcity, by giving a real-life example! Discuss why private property is economically and politically desirable by giving 2
- Discuss why the basic economic problem is scarcity, by giving a real-life example!
- Discuss why private property is economically and politically desirable by giving 2 specific examples!
- Define the four broad categories of resources. Give one example for each category.
- What does it mean when:the PPF is downward sloping, and the PPF is bowed outward.
- What is a price ceiling? List four results that a price ceiling will lead to
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
