Economics Chapter 1 pages 1-14How does the author define economics?Describe the scarcity problem in your own words:Give an example from your life here you had a problem of scarcity. What choice did you make?Goods:Services:ProducersConsumers:What are the factors of production? Define each:As a student, what capital do you have? How does this capital help you?14-18What is an incentive? Give an example from our classroom.
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Economics,History,cost/ marginal benefits,scarcity problem