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Economics Basics part Deux Flashcards | StudBud

Explore/Economics Basics part Deux

To do what is best for you, economically...

Cost...

Economics Basics part Deux

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Questions 8

Answers

1
Cost...
arm and a leg
is the price of something
real income spent on something
is that which is given up
2
To do what is best for you, economically...
Priority numero uno
Economics Self Interest
Economic Achievement
Economic Primary Action
3
Economics is...
study of choice theory
banks, finances, money, etc.
the study of choices
the study of how people make choices
4
Shortages...
exist only in the short term
exist only around Black Friday
sometimes exist
always exist
5
The most valuable alternative given up is...
cost
opportunity cost
value added
super trade-off
6
When you are presented with two or more choices, that is known as a...
binary choice
trade off
super choice
conundrum
7
Scarcity...
always exists
sometimes exists
never exists
exists only in the short term
8
What you get back for what you invest is...
Money
Return on Investment
Dolla' bills y'all!!!
Compensation