All societies face the
Why do we have to make choices and trade-offs? Why does it cost money to produce and consume the goods society wants? The answer is scarcity. In...
Sep 13, 2011
In doing so, an economy has to solve some
"Economics is the study of the division of scarce ... in the world face three main
We will discuss the 3 fundamental or three
Dec 11, 2015
fundamental economic questions: What goods and services shall be produced ...
An economy is a system that attempts to solve the