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… is the study of the allocation of scarce resources in an environment of unlimited wants. Economics is a Social Science and studies human behavior. At the central theme of all economic questions is the concept of “choice.” Economists theorize that scarcity, the fact that useful possessions are limited, forces all humans to make choices. Scarcity necessitates choice.
Economists study the choices humans make. Why they make certain choices, what they hope to gain from the choice and how much they give up each time they choose.
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Meet Economics Faculty
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