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society's virtually unlimted wants paired our scarce and limited resources create this problem

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Terms in this set (275)

society's virtually unlimted wants paired our scarce and limited resources create this problem

the "economizing problem"

usefulness or satisfaction

all natural, human, and manufactured items that go into the production of goods and services

economic resources

they are the four factors of production (AKA economic resources)

land, labor, capital, entrepreneurship

all gifts of nature