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About 10 Principles of Economics
1) People face tradeoffs such as how to spend time and money. Making decisions requires considering costs and benefits of alternatives. 2) Markets are usually a good way to organize economic activity compared to centrally planned economies. Market prices reflect value to consumers and costs of production. 3) A country's standard of living depends on its ability to produce goods and services through productivity. Policymakers must consider how policies impact production.
Detailed Information
| Author: | ['A.Vignaeshwar'] |
|---|---|
| Publication Year: | 2016 |
| Pages: | 4 |
| Language: | English |
| Format: | |
| Price: | FREE |
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