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Economic theory
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Desires for clothes, lawn care, and CDs would be classified as: a. non-economic wants b. services c. goods d. economic wants
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Economic theory
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Economists typically assume human wants and needs are limitless. Do you think this assumption is realistic? Explain.
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Economic theory
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Why is it possible for (real) diamonds to be kept in artificial scarcity?
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Economic theory
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Which of the following is part of the economic way of thinking? a. When an option becomes less beneficial, individuals will become more likely to choose it. b. Costs are incurred whenever scarce resources are used to produce goods or services. c. The valu
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Economic theory
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Managers of a firm are deciding if the company should replace its telephone operators with a computerized voice messaging system. Is this an example of a decision regarding what, how, or for whom to produce?
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Economic theory
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Economics deals primarily with the concept of: a) Scarcity, b) Money, c) Poverty, d) Banking.
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