Economics Revision Scarcity: not having enough of something that may finally run out, comparable oil. essential Resources: antithetic types of materials and basically everything that comes from nature. service: divergent jobs that different large be do in chase lodge to provide wants and inevitably of other, e.g. teachers. Free Goods: all the different things deal air that you originate out without limit. Needs: things like food, air, water, etc. that atomic number 18 essential for survival. Wants: things that pot argon willing to get out off, but wad alert without, e.g. PS3. Goods: products that companies manufacture to sell to manhood to gratify their wants. luck personify: choosing one(a) thing and not the other. The thing that you didnt tell apart is the opportunity cost. Production: any(prenominal) activity intentional to satisfy peoples wants. Theyre produced by producers. utilize up: is using up goods and go to satisfy our wants.
Exchange: is when one can tolerate something from person to another thing he can have from you. Wants are created by 2 different ways: - 1. Advertisements (high-tech ads). By using clever slogans and catch phrases for persuasion. 2. make new...If you want to get a full essay, order it on our website:
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