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Application of principles of economics

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Reference no: EM133182730

Q. Describe any situation in your life or your surroundings where you observe:

1. Scarcity of resources and decision making for choices keeping in view the scarcity

2. The application of Principles of Economics

3. Budget constraint/Production Possibility Frontier and Opportunity cost involved in making choices

4. Conclusion

You can give examples and support your explanation with data in tabular form, figures, charts, diagrams, graphs etc.

Reference no: EM133182730

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