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Micro Economics 1.1 (The Economic Problem (BIG BED (Employment,…

- - - - Machines, factories, money
    - - Ideas, bussinesses
    - - Includes fish, raw materials
    - - Workers
  - - - Incentive
      - Rationing
      - Signalling
- - - - Allcocating resources in most efficient way
    - - Make at lowest cost
  - - - Division of labour, supply side policies
- - - - Not realistic models for real world