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Guided Reading Chapter 1 Sections 1-3. The Basic Problem In Economics. Trade-Offs. What Do Economists Do? Terms in this set (25) ___(1)___ is the study of how individuals, families, business, and societies use limited __(2)__ to fulfill their unlimited wants. 1. Economics 2. resources. Economists consider everything other than basic survival needs to be a _(3)_. this includes TVs, VCRs ...Economics Guided Reading Activity 7 2 Answers - Joomlaxe.com
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the part of the economy made up of private individuals and businesses. transfer payment . payment for which the government receives neither goods nor services in return. grant-in-aid. transfer payment from one level of government to another that doesn't involve compensation. subsidy. government payment to encourage or protect a certain economic activity. distribution of income. way in which ...ECONOMICS PRINCIPLES IN ACTION GUIDED READING REVIEW ...
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Guided Reading Activity cont. Economic Systems B. Main Idea: Because resources are scarce, all societies must decide WHAT goods to produce, HOW to produce them, and FOR WHOM they are produced. 1. Who makes the decisions about WHAT goods to produce in North Korea? Who decides in the United States? How can the decisions affect the people living in those societies? 2. What factors go into making ...Reading Essentials and Study Guide - PC\|MAC
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Guided Reading Activity 72 Economics
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