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Formalism Requires Us to Follow Those Rules That Generate the Greatest

question 7

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Formalism requires us to follow those rules that generate the greatest value for society.

Explain the role of scarce resources in economics and how they relate to the production possibilities curve.
Identify the importance of investment in the accumulation of capital goods.
Appreciate the significance of marginal analysis in economics.
Understand the philosophical and ideological underpinnings of individualism and freedom during the market revolution era.

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