Economics - chapter one 2.5 / 5 based on 2 ratings ? EconomicsResource allocationASCIE Created by: jessbyles_998Created on: 18-01-17 16:21 Resources Inputs available for the production of goods and services 1 of 5 Wants Needs that are not always realised 2 of 5 scarcity a situation in which wants and need are in excess of the resources available. 3 of 5 Fundamental econimic problem scarce resources relative the unlimited wants 4 of 5 Factors of production Anything that w 5 of 5
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