intro to B100
Rutgers University
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B001 review questions
- Exam (elaborations) • 4 pages • 2021
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	Microeconomics-The study of small economic units, such as individual consumers, families and businesses 
	Economics-Analysis of the choices people and governments make in allocating resources. 
o	Supply: Amount of goods and services for sale at different prices. 
	Low supply of gas = higher prices. 
o	Demand: Willingness and ability of consumers to purchase goods and services at different prices. 
	10 people want to buy your house. 
	Supply Curve- shows the relationship between d...
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