Intro To Business; Lessons 1 1 And 1 2

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Introduction to Business Economic Decisions Lessons 1-1 and 1-2

Needs – things that are necessary for survival FOOD CLOTHES HOUSING

Wants – things not necessary for survival but add comfort and pleasure to our lives

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The basic economic problem is SCARCITY This means we have limited resources but unlimited wants.

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Decision-Making Process PACED Method ,[object Object],[object Object],[object Object],[object Object],[object Object]

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