Explain In Your Own Words The Following Terms Scarcity Free Good Economic Good E

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September 26, 2021

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September 26, 2021

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Explain in your own words the following terms: Scarcity; Free Good; Economic Good; Economic Bad. Give one example for each and explain your choice.

Explain in your own words the following terms:Scarcity; this is a situation where the demand is greater than the supply of a good. Let us assume thatan earthquake hits coastal regions. Then there…