Economic Problem

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Economic Problem
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Opportunity Cost The Opportunity Cost is the sacrifice of something to gain something else. It is used in order to gain the best thing by giving up the second best thing
Economic Problem The problem with the economy is the lack of resources available which is to a high demand. People always want more resources even though they are limited.
Choices and Trade-offs Making a choice made normally involves trade-off – this means that choosing more of one thing can only be achieved by giving up something else in exchange.
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