All answers must contain sufficient details/explanations        1. Why do we call economics a scientific discipline? Explain. 2.Why are “scarcity”...

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All answers must contain sufficient details/explanations       

1. Why do we call economics a scientific discipline? Explain.

2.Why are “scarcity” and “choice” central to economics?

3.Using a commonplace item such as milk explain the relationship between demand, supply and price under a capitalist economy (I do not need a chart or a graph, just explain).

 

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