Personal Finance Basic Economic Principles

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Debbie Block

Basic economic principles

Economy & Finance Technology

Needs – things that are necessary for survival FOOD CLOTHES HOUSING

Wants – things not necessary for survival but that add comfort and pleasure to our lives

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The basic economic problem is SCARCITY This means we have limited resources but unlimited wants.

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Decision-Making Process PACED Method ,[object Object],[object Object],[object Object],[object Object],[object Object]

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