Unformatted text preview: sources among its various members, taking into account each member’s abilities, efforts, and desires. Like a household, a society faces many decisions. A society must decide what jobs will be done and who will do them. It needs some people to grow food, other people to make clothing, and still others to design computer software. Once soci-ety has allocated people (as well as land, buildings, and machines) to various jobs, T E N P R I N C I P L E S O F E C O N O M I C S 3 Consider why trade among people or nations can be good for everyone Discuss why markets are a good, but not perfect, way to allocate resources Learn what determines some trends in the overall economy...
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- Spring '10
- Economics, Economic system, oppor tunity cost