Examlex
When you are in a group of people, surrounded by voices, you can choose to focus on the voice of the person you are facing or even choose to eavesdrop on conversations around the room. This is known as
Scarcity
The limited availability of resources to meet unlimited wants and needs.
Economic Principle
A widely accepted generalization that guides the analysis of economics, helping to predict how economic agents will behave under certain conditions.
Incentives
Factors or stimuli that motivate or encourage individuals or entities to act in a certain way, often aimed at achieving a specific outcome or behavior.
Community
A group of people living in the same place or having a particular characteristic in common, or the feeling of fellowship with others due to shared attitudes, interests, and goals.
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