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economic methodology and the economic problem
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Multiple Choice
Multiple choice questions
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1. need
when the available economic resources are used to produce the combination of goods and services that best matches people's tastes and preferences.
something that is necessary for human survival, such as food, warmth or shelter.
a good which is consumed by individuals or households to satisfy their needs or wants.
a statement that includes a value judgement and cannot be refuted just by looking at the evidence.
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