chap 18
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| need | requirements for survival such as food clothing and water
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| want | a thing we should like to have such as entertainment vacations or items that make life comfortable and enjoyable
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| economics | the study of individuals and nations make choices about ways to use sources resources to fulfill their need and wants
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| microeconomics | the economics behavoir and decision making by individuals and small business
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| macroeconomics | economic behavior and decisions making by the government or a whole industry or society
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| economics models | simplified representation of the real world that economist develop to describe how the the economy behaves and is expected to perform in the future
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| economic systems | nations way of producing things in people want in need
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| resource | wealth
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| scarcity | not having enough resources of things you would like to have
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| marginal cost | the additional or extra benefit associated with an action
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| cost benefit analysis | economic models that compare the marginal cost and marginal benefit of a decison
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| trade off | the alternative you face if you decide to do one thing rather then another
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| opportunity cost | the cost of the next best alternative use of time ans money when choosing to do one thing rather the another
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| marginal benefits | the additional or extra opportunity cost associated with an action
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
somonnemclean
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