Which of the following are the words most commonly used by economists?a.supply and demandb.surplus and shortagec.price and quantityd.scarcity and human wants
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Solution 1
The words most commonly used by economists are "supply and demand". These terms are fundamental to the study of economics. They represent the basic economic problem of any society, that is, how to allocate its resources.
Supply refers to the amount of a product that producers are willing and able Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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