E CONOMICS C HAPTER 1 What is Economics?. W HAT IS E CONOMICS ? Economics-the study of how people seek to satisfy their needs and wants by making choices.
Mercantilism The Economics of Absolutism ECONOMICS PRODUCTION DISTRIBUTION CONSUMPTION of goods and services The study of...
Chapter 1 The Economic Way of Thinking. Section 1 Scarcity: The Basic Economic Problem.
