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Scarcity

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Shortage

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Q: Economics define as limited quantities to meet unlimited wants?
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Define ecnomics in words of marshal?

"Economics is a study of how limited resources are used to satisfy unlimited human wants". Economics is the science that deals with the production and consumption of goods and services and the distribution and rendering of these human welfare...


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How do you define the term 'economics'?

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"Economics is the study of how people relate to each other" is a statement that does not define economics.


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