In this presentation, the focus will be in the field of economics. The central problem of economics involves the study of scarcity (limited choices and unlimited wants). It shows how individuals, societies, governments, businesses, households allocate their scarce resources when faced with the problem of scarcity. It is about the choices that we make and the effects of our choices on each other. Economics is highly applicable to every aspect of our lives, from the decisions we make as individuals…
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