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Define what is meant by scarcity when referring to the economic problem?
Wiki User
∙ 12y ago
Scarcity is our limited resources but unlimited wants.The problem of scarcity is that our wants are always beyond what we can produce with our resources.
Wiki User
∙ 12y ago
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Define economic depression and name at least one example of one?
An economic depression is a sustained, long-term downturn in economic activity in one or more economy. An obvious example is the U.S. Great Depression.
Define the main issues which should receive the attention of the researcher in formulating the research problem.?
carelessness,
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Economics define as limited quantities to meet unlimited wants?
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