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The above ten principles of economics try to justify that as social science, economics deals with choice problems in the face of scarcity. that the more people understood about basic economics the happier and more prosperous they would be. Click the button for 11th Class Prin. Other Market Structures. But unlike an individual, a society has no mind or consciousness. Lecture 17 12_01.pdf. For more content related to this post you can click on labels link. CHAPTER SUMMARY The principles of decision making are: People face tradeoffs. All the core courses are compulsory. It can be downloaded& as a single PDF file or viewed online.

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