Examlex
According to the text,the outbreak of the Cold War was virtually inevitable,given the ambitions of the two superpowers and their ideological differences.Do you agree? How do you think the Cold War might have been avoided? Why did the Cold War briefly flare up again in the 1980s,and why did it come to a definitive end at the end of the decade?
Problem Of Scarcity
The fundamental economic problem of having seemingly limitless human wants in a world with limited resources, leading to the necessity of making choices.
Microeconomics
A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources.
Trade-Offs
The balance achieved between two desirable but incompatible features; a compromise or the act of giving up one benefit to gain another.
Positive Statement
An objective statement based on factual claims, describing the world as it is without imbuing personal preferences or prescriptions.
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