Economics Unit1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
---|---|---|---|---|---|
TINSTAAFL | there is no such thing as a free lunch
🗑
|
||||
Economics | The social science concerned with how individuals, institutions and society make optimal choices under condition of scarcity.
🗑
|
||||
Productive Efficiency | occurs when the economy is utilizing all of its resources, and operates at its production possibilities curve (frontier)
🗑
|
||||
Allocation Efficiency | a situation in which the limited resource of a firm are allocated in accordance with the wishes of consumers
🗑
|
||||
Law of Diminishing Returns | The principle that as successive increments of a variable resource are added to a fixed resource, the marginal product of the variable resource will eventually decrease.
🗑
|
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.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
alexmayu
Popular Marketing sets