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Economics analysis (Decision Making market (Firms, Household, Government,…
Economics analysis
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Resource
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Resource categories
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Physical capital & Human capital --> paid by interest --> produced by people and could be used to produce another goods and service
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Entrepreneurial Ability--> paid by profit--> talent, creativity and other skills
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Economic Decisions
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Marginal change
marginal benefit is exceed the marginal cost, they will change the status quo
Micro & Macro
Micro--> individuals interact with each other ex: household, firms and other
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