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What does economic terms mean?

Updated: 8/16/2019
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14y ago

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The term economics is technically defined as the full employment of the limited resources either within the different economies or the global economy , i.e the area where all the production and provision of services are taken place.
In short , economics focuses on managing and making use of the limited resources in the world, which is basically the factors of production including , land , labor, capital, and entrepreneurship.

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14y ago
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the coming together of a buyer and a seller

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