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Economics (RC (capital (T (finacial), D (the tools used to produce goods…
Economics
RC
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rational choice
D
act of comparing cost and benefits and choosing the alternative that maximizes benefits and minimizing costs
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mindset
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most choices are of a "how much" type, by comparing benifit and cost at the margin
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Definition
all economic questions arise from scarcity, wants exceeds the resources avaliable
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big questions
how do choices end up determining what, how and for whom goods and services are produced?
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