In terms of economics what are shortages scarcity choices, Business Economics

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In terms of economics what are shortages scarcity choices

1. In "terms of economics" what are shortages, scarcity, choices, opportunity costs, wants and needs? Explain in detail

2. What are the forms of capital? Explain in detail3

3. What does mean Production possibility curve (PPC)? Explain in detail and give an example

4. What are the types of Economic Systems? Explain in detail and give an example

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Business Economics: In terms of economics what are shortages scarcity choices

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