tailieunhanh - Managerial Economics

Economics is the study of how individuals and societies make choices subject to constraints. The need to make choices arises from scarcity. From the perspective of society as a whole, scarcity refers to the limitations placed on the production of goods and services because factors of production are finite. From the perspective of the individual, scarcity refers to the limitations on the consumption of goods and services because of limited of personal income and wealth. | IP IV anagerial economics Thomas J. Webster MANAGERIAL Economigs Theory and Practice This Page Intentionally Left .

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