Unformatted text preview: incmparable units In Canada, the Canadian Dollar is most often used as the unit for measuring economic values People Are Rational Economists assume that people are Rational: that they know their goals and try to fulfill these goals as best they can with the mimited resources they have Typically, people use the Cost-Benefit Principle to resolve the economic trade-offs they face If there is no scarcity-i.e. no trade offs, then there is no ecnomoinc problem...
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This note was uploaded on 09/23/2010 for the course ECONOMICS ES50054 taught by Professor Johncullis during the Spring '09 term at University of Bath.
- Spring '09