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Under this license, any user of this textbook or the textbook contents herein must provide proper attribution as follows: - If you redistribute this textbook in a digital format (including but not limited to PDF and HTML), then you must retain on every page the following attribution: Apr 26, 2022 · Alfred Marshall, a famous neoclassical economist, went further in the mid-20th century and developed a mathematical model of supply and demand. e. This book contents a total of eight units with Unit Summary and Review Exercise Questions at the end of each unit. D. Distinguish, using examples, between the causes of structural, seasonal and demand deficient unemployment. 1 Definitions of Economics The study of how men and society end up choosing to employ scarce resources that could have alternative uses” (Samuelson) Economics is the study of how people allocate their limited resources in an attempt to satisfy their unlimited wants. 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