GCCCD Economics Making Decisions on Different Choices Questions

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Ensvfnxng11

Economics

Grossmont Cuyamaca Community College District

Question Description

I don’t understand this Economics question and need help to study.

1) Discuss each of the economic ideas: People are rational, people respond to incentives, and optimal decisions are made at the margin. Please give an example of each.

2) What is scarcity? Why is scarcity central to the study of economics? Please give a real world example of scarcity.

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pynverwla (532)
Purdue University

Anonymous
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