1.1 - Introduction to Economics
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Practice Questions
Test your understanding with targeted questions
What does economics study?
💡 Hint: Think about what we do when resources are limited.
Define scarcity in your own words.
💡 Hint: Consider the example of any good or service.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What defines economics?
💡 Hint: Think about the allocation of resources.
True or False: Scarcity only applies to monetary resources.
💡 Hint: Consider resources like time and land.
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Challenge Problems
Push your limits with advanced challenges
Consider a country facing severe water scarcity. Discuss the economic implications of this scarcity on agriculture and industry.
💡 Hint: Think about resource allocation priorities and potential policies.
If a government must choose between improving public transportation and funding education due to limited budget resources, analyze the opportunity costs involved with each decision.
💡 Hint: Reflect on societal needs and future repercussions.
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Reference links
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