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A basic concept in economics is that all resources are limited.

allocated. valuable. renewable

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A basic concept in economics is that all resources are limited.

allocated.
valuable.
renewable

Answer

That all resources are limited The more limited one resource is, the more Valuable it become.
Sellers can sell diamond in a very high price because it's limited, not many people can get their hands on it.
That's why you cannot sell breathing air because it's unlimited and all people can easily get it

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 14 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 273 views.

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