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20 December, 04:44

What is scarcity? What is oppurtunity cost

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  1. 20 December, 04:57
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    The opportunity cost of a choice is the value of the best alternative given up. Scarcity is the condition of not being able to have all of the goods and services one wants. It exists because human wants for goods and services exceed the quantity of goods and services that can be produced using all available resources
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