Chapter 1 part two Word Scramble
|
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
Question | Answer |
What are statistics? | the data that describes economic variables; also the techniques of analyzing, interpreting, and presenting data |
Define institutions? | decision-making units, established practices, or laws exp. Banking system, labor unions, legal principle of private property ownership etc. |
What is another helpful economic tool? | History or economic history |
What are important organizations customs, or patterns of behavior in a society? | Institutions |
What is an economic concept? | a word or phrase that conveys an economic idea |
What is the most important theoretical tool of economics? | Economic Models |
What is an economic model? | a simplified representation of the cause-and-effect relationships in a particular situation. Models may be in verbal, graphic, or equation form. |
What is a variable? | a quantity- such as number of workers, amount of carbon dioxide, or interest rate- whose values changes in relationship to changers in the values of other associated items. |
What type of models do economist often test their hypotheses with? | Mathematical, graphs, or stated in words |
Created by:
Selynra
Popular Miscellaneous sets