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| The study of how we overcome scarcity- everything is scarce and we must choose what we spend our time, money, etc. on. The study of how we exchange goods and services. |
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| Objective economic analysis |
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| Expresses value judgements, objective. |
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| The idea that everything is limited- including money, time, and resources. |
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| "with other things the same"-- all else being equal |
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| What you give up when you make a decision to do or buy something |
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| Branch dealing with larger aspects of economics- nationwide, international, and bigger corporations |
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| Data that is put together from other series' of data. |
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| The study of economics on a smaller scale- cities, local companies, or very small nations. |
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| Use of all available resources |
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