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Management partial first midterm

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Economic activity involves choices among alternatives, influenced by public opinion and resources, aimed at satisfying people's needs.
Needs can be physiological or social; a hierarchy of needs exists, with lower needs needing to be satisfied before higher ones are addressed.
Economic goods are useful for specific needs and can be classified as primary, non-essential, complementary, substitutable, intermediate, luxury, private, or public. The market is defined by negotiations and can be perfect or imperfect based on the number of transactions and codification of conditions.

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