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Morgan and Izzy Flashcards | StudBud
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Morgan and Izzy
Morgan and Izzy
10 terms
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StudBud Administration
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14 plays
#economics
Flashcards
10 cards
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Questions
10
Answers
1
the part of economics concerned with large-scale or general economic factors.
Micro economics
macro economics
production
scarcity
2
the state of being scarce or in short supply; shortage.
Simple interests
Savings
Efficiency
Scarcity
3
what is the most important part of economics
gender gap
supply and demand
Types of labor
wage determination
4
the part of economics concerned with single factors and the effects of individual decisions.
Micro economics
single economics
Macro economics
absolute advantage
5
to be a doctor is this kind of labor
skilled
unprofessional
professional
unskilled
6
how much a person makes at their job
salary
pay check
wage
7
to have value must be ______ and _______
equilibrium and intensives
supply and demand
utility and scarce
8
what is the paradox of value also known as
apple orange paradox
diamond water paradox
9
the branch of knowledge concerned with the production, consumption, and transfer of wealth
equality
workers union
Ecommerce
Economics
10
include land, labor, capital and entrepreneurship.
Fair trade
Factory price
Factor of price
Factors of production
