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Economics 101

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The basic economic problem is that the world has finite resources but humans have infinite wants.

The purpose of an economy is to allocate resources and provide solutions to the basic economic problem.

The economy has the power to make decisions that affect the way we live, work, and make choices.

<p>No, the rules of the economy differ depending on the country and economy you are part of.</p> Signup and view all the answers

<p>North Korea, Singapore, and the United Kingdom.</p> Signup and view all the answers