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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.1
Unit 1 – Basic Economic Concepts
1.1 Basic Economic Concepts
mixed difficulty
Why is understanding the concept of opportunity cost important for individuals and societies?
It minimizes the role of entrepreneurship
It ensures equal distribution of resources
It eliminates scarcity and trade-offs
It helps maximize benefits by making informed choices
Study guides (1)
AP Microeconomics - 1.1 Basic Economic Concepts: Scarcity
Key terms
Opportunity Cost
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