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Posted: January 6th, 2024
List the three basic economic questions that all societies
Hey. Help with these questions please1. What are resources? Describe two different types of resources.2. List the three basic economic questions that all societies must answer.3. Explain the economic concept of opportunity cost.4. Suppose you have saved $300. You can spend it on a new stereo or on a weekend skiing trip. What is the opportunity cost of going on the skiing trip?5. Comment on the following statement: "I decided to buy a car from a dealer in a town 100 miles away because he was offering a price that was $100 lower than the dealer in my hometown. Therefore, I saved $100."
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