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About Scarce Resources
This document provides an overview of key economic concepts. It explains that economics studies how scarce resources are allocated to satisfy unlimited human wants. It defines some fundamental economic problems like scarcity and opportunity cost. It also outlines different types of economic systems - traditional economies, market economies, planned economies and mixed economies - and how they answer basic questions about what, how and for whom to produce. Finally, it identifies the main factors of production as land, labor, capital and enterprise.
Detailed Information
| Author: | ['Ata U SAmad'] |
|---|---|
| Publication Year: | 2011 |
| Pages: | 6 |
| Language: | English |
| Format: | |
| Price: | FREE |
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