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What is the process of using up utility value of goods and services for the direct satisfaction of our wants?
What is the process of using up utility value of goods and services for the direct satisfaction of our wants?
According to Alfred Marshall, what is the study of man in the ordinary business of life?
According to Alfred Marshall, what is the study of man in the ordinary business of life?
According to Bowley, what are numerical statements of facts in any department of enquiry placed in relation to each other?
According to Bowley, what are numerical statements of facts in any department of enquiry placed in relation to each other?
What is the part of income which is not consumed and is an art of abstinence from consumption?
What is the part of income which is not consumed and is an art of abstinence from consumption?
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What is the problem of choice arising due to the scarcity of resources which have alternative uses?
What is the problem of choice arising due to the scarcity of resources which have alternative uses?
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What refers to information in terms of numbers or numerical data?
What refers to information in terms of numbers or numerical data?
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Define consumption in the context of economics.
Define consumption in the context of economics.
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Explain the concept of saving in economics.
Explain the concept of saving in economics.
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What is the economic problem and why does it arise?
What is the economic problem and why does it arise?
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Describe the role of a producer in economics.
Describe the role of a producer in economics.
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What is the significance of investment in the context of economics?
What is the significance of investment in the context of economics?
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Explain the concept of economic activity and its relation to scarce means.
Explain the concept of economic activity and its relation to scarce means.
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