Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 1.1, Problem 2RQ
To determine

Examples of scarcity.

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What will happen if there is no scarcity? Explain.
In some countries the government makes most of the decisions about what will be produced, how it will be produced, and for whom. Does the fact that these choices are made by the government eliminate scarcity in these countries? Why or why not?
Use economics to explain why people smoke even though they know smoking is not good to their health?
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