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  3. Choice in a world of scarcity
  4. How individuals make choices

2.1 How individuals make choices based on their budget constraint  (Page 16/16)

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    utility

    satisfaction, usefulness, or value one obtains from consuming goods and services

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Source:  OpenStax, Macroeconomics. OpenStax CNX. Jun 16, 2014 Download for free at http://legacy.cnx.org/content/col11626/1.10
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