(Answered) 1 respond to the following question with three

Economics

1. Respond to the following question with three well-composed paragraphs:

Does the fact that something is abundant mean it is not scarce in the economic sense? Why or why not?

2. Respond to the following question in three well-composed paragraphs: In what ways are the bowed-out shape of the production possibilities curve and the law of increasing opportunity cost related?

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