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Time is an important resource in our everyday life. Each day has 24 hours within which all activities must be accomplished. Using your notion of

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Time is an important resource in our everyday life. Each day has 24 hours within which all activities must be accomplished. Using your notion of the concepts of scarcity, choice, scale of preference and opportunity cost, illustrate a typical daily routine and explain hows.r time may be allocated among competing alternatives (23 marks)

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