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PtichkaEL [24]
3 years ago
7

Why are scarcity and choice basic to the study of economics?

Social Studies
2 answers:
Vesna [10]3 years ago
7 0
These two factors define an economy. This is because scarcity shows how much of something is stocked. Meaning economists can know what there is and what there isn't. Choice is pretty self explanatory people want to know what consumers want to buy.
Ratling [72]3 years ago
7 0
These two factors define an economy. This is because scarcity shows how much of something is stocked. Meaning economists can know what there is and what there isn't. Choice is pretty self explanatory people want to know what consumers want to buy.
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