The main problem of economic theory is believed to be the contradiction between unlimited needs and limited resources. Try to explain how economy appears from this contradiction.When answering try to use the following concepts: - properties of economic resources - the law of marginal utility

The main problem of economic theory is believed to be the contradiction between unlimited needs and limited resources. Try to explain how economy appears from this contradiction.When answering try to use the following concepts: - properties of economic resources - the law of marginal utility

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 3E

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- properties of economic resources

- the law of marginal utility

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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