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What are the basic concepts of economics?

Anonymous

∙ 14y ago

Updated: 8/22/2023

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.

Wiki User

∙ 10y ago

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micro economics and macro economics

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the basic concern of economics is to study the choices people make

Basic concepts of economics?

Basic concepts of economics:ScarcityChoiceOpportunity costAlternate 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.

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