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Basic concepts of economics:
- Scarcity
- Choice
- Opportunity cost
Alternate Answer:
There are two definitions of Money:
- A Receipt for Deposited Goods and Services.
- An Idea backed by Confidence.
With this second definition, the owners of banks and governments can transfer the wealth of an economy to themselves.
Wiki User
∙ 11y ago
nnenna uzoamaka azuo...
wants, scarcity, scale of preference, choice and opportunity cost.
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What are the basic concepts of economics?
Economics involves the interactions in society involving finances. Namely, economists study how the monetary value of items changes over time based on outer effects like the supply of resources and the demand of consumers.
What are the basic division in economics?
micro economics and macro economics
What is the basic concern of economics?
the basic concern of economics is to study the choices people make
Fundamental concepts underlying the discipline of economics?
Scarcity and Choice
What are the basic concept of international business?
International business encompasses numerous concepts including entry to new markets, trade and foreign direct investments, politics, economics and environmental variables of culture.
What are the basic concepts of economics?
Economics involves the interactions in society involving finances. Namely, economists study how the monetary value of items changes over time based on outer effects like the supply of resources and the demand of consumers.
What do you study in Economics in VCE?
The Australian Market system and basic economic concepts such as demand and supply.
What has the author C Ackello-Ogutu written?
C. Ackello-Ogutu has written: 'Basic concepts of microeconomics' -- subject(s): Economic conditions, Economics, Microeconomics 'Basic concepts of microeconomics with special reference to Kenya'
Can economics be a substitute of maths?
No. Economics uses a subset of mathematical concepts.
What are the basic division in economics?
micro economics and macro economics
What are basic principles of economics?
What are the principles of economics
What is the basic concern of economics?
the basic concern of economics is to study the choices people make
When was Basic Concepts in Sociology - book - created?
Basic Concepts in Sociology - book - was created in 1952.
Fundamental concepts underlying the discipline of economics?
Scarcity and Choice
What are the basic concept of international business?
International business encompasses numerous concepts including entry to new markets, trade and foreign direct investments, politics, economics and environmental variables of culture.
What are the basic accounting concept and their implication?
basic concepts of accounting
What has the author Salah Khogali Ismail written?
Salah Khogali Ismail has written: 'BASIC MANAGERIAL CONCEPTS' 'BASIC MANAGERIAL CONCEPTS'
