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Economic methodology GapFill

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Economics is regarded as  because it explores society and  behaviour. One of the most important assumptions in the study of economics is the  assumption. In economics a statement is said to be  when it is based on facts and when it can be tested and proved. When a statement is showing an opinion, it is called a  statement. The basic economic problem in the study of economics is that of . This means that finite  are competing with  needs and wants. Economic resources are either  or non-renewable. Since economic resources are scarce, economic agents must make .

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