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QuestionAnswer
oppertunity costs opportunity cost is what you give up when you choose one thing over another.
microeconomics part of economics concerned with the effects of single entity(bissness) and individual decisions
values individual beliefs that motivates people to act one way or another
scarcity unlimited wants in a world of limited resources
needs what i want
Macroenconmics Large scale or general economic factos
GDP Total value of goods and servises
supply chain a network of people and entities who are involved in creating creating a product for the consumer
inflation over all pricing for goods and servises
deflation over all decrease in price for goods and services
economic expansion Economic expansion is when a country or region's economy grows.
economic ressesion down turn of an economic activity (GDP drops)
depression steep drop of economic activity
Created by: tyrustharp
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