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is the study of how individuals and societies allocate scarce resources among many competing uses and how this decision-making affects the economy at large. (Enter one word in the blank.)
Economics
The comparison of the scarcity of one good, service, or resource to that of another is called "_________ scarcity." (Enter just one word in the blank.)
Relative
the subject of economics can be divided into two main categories _______ and ______
micro and macro
The term "scarcity" describes the fact that people's ______ wants cannot be completely satisfied with ______ resources.
unlimited; limited