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1 June, 10:03

With scarcity at the base of all material economics the key operating principle is

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  1. 1 June, 10:27
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    With scarcity at the basis of all material economics, the key operating principle is Opportunity Cost. This is defined as the loss of potential gain from other alternatives when one alternative is chosen. If you have more of one thing, you must have less of another.
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