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Intro Part 3

5 ATHENA Intro Part 3 Timelinks

vocabulary worddefinitionexample
cost-benefit decision a choice made to buy a product taking into consideration the future benefits that will result from the product The outcome of the cost-benefit decision was that John joined the health club.
demand the desire for a product or service The demand for cars with better gas mileage may increase as gasoline prices continue to rise.
economy the way a country's people use natural resources, money, and knowledge to produce goods and services Tourism was a major part of the country's economy.
opportunity cost the value of the second best choice when choosing between two things The opportunity cost of attending the movie was missing the football game.
supply a quantity of something that is needed or ready for use The abundant supply of tomatoes caused their pice to drop.
Created by: bgagnon