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How does scarcity, opportunity cost, and choices relate to each other in economics​
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How does scarcity, opportunity cost, and choices relate to each other in economics​

User Maxime Lorant
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Economics is a social science that examines how people choose among the alternatives available to them. Scarcity implies that we must give up one alternative in selecting another. ... The opportunity cost of any choice is the value of the best alternative that had to be forgone in making that choice.

User Ed Webb
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