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4
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These can sometimes improve economic outcomes.
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6
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Branch of economics that studies decision making for the economy as a whole.
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7
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Value of the next best alternative that had to be given up for the alternative chosen.
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9
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Society gets the most that it can from limited resources.
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10
|
Exchanging one thing for the use of another.
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11
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Anything people can use to make or obtain what they want.
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13
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Good ways to organize economic activity.
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14
|
Branch of economics that studies decisions of a single individual.
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1
|
Rational people think here.
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2
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Mental and Physical capacity of workers to produce goods and services.
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3
|
Any natural resource the Earth provides.
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5
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Creative ability of individuals to start new businesses, introduce new products and techniques, and improve management.
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8
|
Society has limited resources and can not produce all goods and services people desire.
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12
|
The benefits of resources are distributed fairly among society members.
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15
|
Physical buildings, machinery, and equipment used to produce goods and services.
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