MicroEconomics
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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| show | A visual model of the economy that shows how dollars flow through markets among households and firms
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| Production Possibilities Frontier | show 🗑
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| show | The Economy is getting all it can; from the scarce resources available; the only way to produce less of the other good
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| show | Points "Inside" production possibilities frontier
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| show | Give up producing the other good;slope of the production possibilities
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| show | The study of how households and firms makes decisions; and how they interact in markets
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| Macroeconomics | show 🗑
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| Decision Makers | show 🗑
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| Markets | show 🗑
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| show | Produce goods and services
Use factors of production / inputs
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| Households | show 🗑
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| show | Firms – sellers
Households – buyers
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| show | Firms – buyers
Households - sellers
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| show | a graph-combinations of output that the economy can possibly produce-Given the available
Factors of production
Production technology
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| Efficient Levels Of Production | show 🗑
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| Inefficient levels of production | show 🗑
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| Opportunity cost of producing one good | show 🗑
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| show | Claims that attempt to describe the worlds as it is: for of a fact
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| show | Claims that attempt to prescribe how the world should be; more of an opinion
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
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Created by:
robtyson26
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