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Questions and Answers
What is the decision-making process in economics primarily concerned with?
How has economics been defined in relation to the decision-making process?
What is the main focus of the decision-making process in economics?
In the context of economics, what does the decision-making process aim to address?
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What is the definition of resources- also called as wealth?
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Which of the following is NOT an example of resources or wealth mentioned in the text?
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In which category do the mineral resources mentioned in the text fall under?
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What type of goods are described as 'goods that still require further processing and refinement before becoming final outputs' in the text?
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Which of the following is a correct definition of wealth?
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Why are physical resources considered wealth?
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Which term refers to resources drawn from the wealth of oceans?
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What pertains to the difficulties in producing resources and leads to their limited availability?
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