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3 Cards in this Set
- Front
- Back
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The Economic Problem |
How society is able to satisfy unlimited wants with the limited resources that are available |
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The Market Economy |
A network of buyers and sellers seeking to exchange a particular product at a certain price.
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Roles of the Government |
▪Provide goods and services that otherwise are not provided ▪Best if they are essential eg. Army, Electricity ▪Redistribute income eg. welfare |
