the latin expression ceteris paribus means the latin expression ceteris paribus means: the resources provided by nature and used to produce goods and services are also known as:

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CHAPTER 1 Intro: what is economics? Scarcity The resources we use to produce goods and services are limited. (EX. You have limited amount of time. each hour on the job means one less hour for study or play. Economics The study of choices when there is scarcity. Factors Of Production The resources used to produce goods and service; also known as production inputs, or