Essay
Evaluate P: P = 
for S = 1665, r = 0.14, t = 
Identify the challenges of applying the scientific method to economics due to the unpredictable nature of human behavior.
Calculate and interpret the slope of budget lines in various economic scenarios.
Distinguish between the economizing problem and the concept of scarcity in economics.
Understand the concept of opportunity cost in decision-making under scarcity.
Definitions:
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