What are economic resources, and how does scarcity of resources apply to economic decisions?

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asked Jul 17, 2019 160k views

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Kolichikov · Answer 1 · 2019-07-23T22:50:30+0000

Economic resources are goods that are produced to satisfy our wants. Because our wants usually exceed beyond the resources available, it impacts economic decisions.

What are economic resources, and how does scarcity of resources apply to economic decisions?

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