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Scarcity and Choice
N/A
5
Economics
Undergraduate 1
11/18/2012

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Cards

Term
weigh up
Definition
(phrasal verb) to consider something carefully before making a decision. E.g.:She weighed up the options before giving her decision.
Term
investment
Definition
(noun) the act of investing money in something. E.g.: We have made a big investment in technology.
Term
maximise
Definition
(verb) to increase something as much as possible. E.g.: Businessman always try to maximise their profits. Opposite : minimise
Term
welfare
Definition
(noun) the general health, happiness and safety of a person, an animal or a group. E.g.: People think their welfare when they choose something about their life. Synonym : well-being
Term
scarcity
Definition
(noun) when there is not enough of something. E.g.: A scarcity of water makes difficult African people's life.
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