Microeconomics scarcity choicewhat determines whether or

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Microeconomics: Scarcity, choice

What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics?

Why is choice important in economics? What are the costs of choice?

How can the concepts of invisible hand and self-self interest in crease social welfare?

Reference no: EM13369437

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