chapter 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 | things that are required to survive
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want | things people would like to have to better there life
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economics | the study of how we make decisions in a world which resources are limited
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microeconomics | the smaller picture or taking a look at a persons economic standard
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macroeconomics | the big picture or looking at the big industries or governments economic standard
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economic modle | a theory that tries to explain human economic behavior
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economic system | a nations way of producing things its people want and need
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resource | the money, people, and materials available to accomplish a community's goal
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scarcity | not having enough resources to make what we would like to have
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trade off | the alternative you face if you decide to do one thing instead of the other
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opportunity cost | the cost of the next best alternative use of money
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marginal cost | the additional opportunity cost associated with an action
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cost-benefit analysis | economic model that compares the marginal costs and marginal benefits of a decision
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marginal benefit | the additional benefit 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:
robertolulecaballero
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