ECO 1000 Basic Economics
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At the most basic level as per the course ECO 1000 Basic Economics, economics attempts to study how and why people makes the purchasing choices they do. Following are the four key economic concepts:
- Scarcity
- Supply and demand
- Costs and benefits
- Incentives- it can help regarding many decisions that humans make
Also following are the 5 basic economic principles under course ECO 1000 Basic Economics:
Following are five basic principles of economics that every introductory economics begins with at the start of the semester:
- Rationality
- Costs
- Benefits
- Incentives
- Marginal analysis
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