Scarcity
AP Macroeconomics · Flashcards
AP MACROECONOMICS · FLASHCARDS
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QUESTION
What is the difference between microeconomics and macroeconomics?
QUESTION
What is the role of incentives in economics?
QUESTION
What is absolute advantage?
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ANSWER
Ability to produce more of a good with the same resources. Superior productivity in producing a specific good or service.
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