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February 10, 2026 

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THREE QUESTIONS OF ALLOCATION: The three basic questions that an economy must answer because of limited resources and unlimited wants and needs are: What? How? and For Whom? The basic problem of scarcity requires every society to determine: What goods to produce? How to produce the goods? and Who receives the goods that are produced?

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VARIABLES

Quantities, usually represented as symbols, that can take on one of a set of values. A variable is "variable" because its value can "vary." A primary goal of economic analysis is to determine the specific value that a variable takes on under specific circumstances.

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Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Cherish your visions and your dreams as they are the children of your soul; the blue prints of your ultimate achievements."

-- Napoleon Hill, Author

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