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economics
a science that analyzes how individuals behave in a world of scarcity
positive
describes what is or will be, objective, factual
normative
describes what should or ought to be, subjective
abstraction
the process of building a theory to simplify our thinking
Author
jchino
ID
31197
Card Set
buad
Description
buad definitions
Updated
2010-08-25T17:56:33Z
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