Economics

Economics - o Natural-iron ore oceans rivers land o...

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Economics-“study of human behavior in the presence of constraints” Why do we have constraints? o Scarcity-not freely abundant in nature (price is zero) Resources-Anything used to produce other goods/services
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Unformatted text preview: o Natural-iron ore, oceans, rivers, land o Human-knowledge, experience, talent o Physical-tools, machinery, factories (natural/human combined) • Scarcity vs. Poverty...
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This note was uploaded on 01/27/2011 for the course ECO 2013 taught by Professor Evans during the Fall '08 term at FSU.

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