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Define the points of individual choices makes and interact.
A. How individuals make choices:
• Scarcity
• Opportunity cost
• Trade-offs
• Marginal analysis
B. How individual choices interact:
• Trade
• Gains from trade
• Specialization
• Equilibrium
• Efficiency and equity
Q. Illustrate the Says Law? With Say's Law, aggregate demand would always be equal to aggregate supply and cross model would be incorrect. Keynes's argument as to why Say's
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defination
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