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10 cards from this deck
Study of decisions about using scarce resources for unlimited wants
Unlimited wants & limited needs with limited resources available
What to produce? How to produce? For whom to produce?
Individual decision-making by consumers, families, and businesses
Economy as a whole: unemployment, inflation, growth, govt policy
How money works, is controlled, and used in the economy
Employment, wages, and job market effects on the economy
Start with theory, test against real-world facts
Collect facts first, then develop theories from patterns
General statements about typical behaviour, not scientific laws
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