Question
What are the reasons to study economics? What is scarcity? Can you think of two causes of scarcity? What are the basic economic problems? Describe
What are the reasons to study economics? What is scarcity? Can you think of two causes of scarcity? What are the basic economic problems? Describe each. Could a nation be producing in a way that is allocatively efficient but productively inefficient?
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
