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Microeconomics Final Exam – Study Notes - 3 1 1 HOW DO INDIVIDUALS MAKE DECISIONS? ECONOMIC ANALYSIS - Studocu

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Microeconomics is the study of the behavior of the simplest and smallest units and magnitudes of the economy and their use of scarce resources.

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Economics Notes [PDF Library] - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of different definitions of economics throughout history: 1. Economics as the science of wealth (Adam Smith) - Focused on increasing national prosperity through individual wealth maximization. This definition was criticized for encouraging selfishness and exploitation. 2. Economics as the science of material well-being (Alfred Marshall) - Emphasized…

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