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kyle
Lv 5
kyle asked in Social ScienceEconomics · 5 years ago

what are the laws of economics.?

Such as the law of supply and demand, the law of diminishing returns and so on.

1 Answer

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  • Sienna
    Lv 7
    5 years ago

    There's lots of them. The first law of economics is that human action is purposeful behaviour. Human action always consists of preferring one thing over others.

    Another is the law of marginal utility.

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