Every basic individual has their own wants and requirements, but are faced with the problem of limited resources. Imagine a college student who’s on a full ride to college, but still, needs to pay for his basic wants and requirements. He wants to see the next movie, he wants to buy the latest iPhone, he needs food for the next two weeks, he needs to spend money on books to study for upcoming tests, but he only has 500 dollars. The hypothetical college student now has to prioritize certain requirements…
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