Until 1800, most people lived on farms in the US and Western Europe. Economy - based on: 1. Farming 2. Making goods by hand 3. Trading UNTIL…. The Industrial.
Unit 1 Notes: Fundamental Economic Concepts. 1. Economics - Is the study of how people try to satisfy unlimited wants and needs through the use of scarce.
Mechanization and Industrialization
Chapter 1, Section 1 Scarcity and the Science of Economics Fatmeh Reda Information compiled from: Glencoe Economics: Principles and Practices.
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Call to Order