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Module 1: Introduction to Economics

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XSIQ
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Economics - Choice

Choice

As resources are limited compared to the wants of society, and because
resources have alternative uses, choices must be made by producers
regarding resources. Many choices exist. For example, should a firm use
their resources to produce motor cars or motor bikes; should a firm use
capital or labour to produce a good; and should the government provide
goods and services to those in need or to those who can afford the good or
service.

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