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Duplicate of Introduction To Economics
Duplicate of Introduction To Economics
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1
Services
washing dishes
eating food
system supplying a public need such as transport, communicate, or utilities
the action of helping or doing work for someone.
2
Entrepreneurship, what is it?
its when you get paid to do notbhing
Its when you get paid to think
When you pay for ideas
refers to an individual or a small group of partners who strike out
3
Macroeconomics
the study of whole economies
branch of economics that studies the behavior and performance of economy
the study of how brains function
the branch of how information is researched
4
What is the definition of Wants?
a want is a need that you have to throw a fit for
a want is something that isn't needed for life
a want is something you desire but don't need to survive
a want is something you require to survive
5
Productivity
the effectiveness of productive effort, in industry, as measured in terms
The making of cheetos
why puppies are sold
the state or quality of producing something, especially crops.
6
Trade-Off
exchange something of value, especially as part of a compromise.
selling a video game in return for money
a kind of compromise that involves giving up something in return something
babysitting instead of video games for a few hours in return for money
7
Microeconomics
branch of economics, the behaviour of decision takers within the economy
branch of economics that studies the behavior and performance of an economy
I have no clue
what?
8
Command Economy
the central government dictates the level of production of goods
I have no idea, man
something about control...but I can't remember what it was
an economy in which production, prices, incomes are determined by Governs
9
Production Possibility Curve
The production possibility frontier (PPF) is a curve on a graph
its a graph about how cheese is prduced
its a graph that shows how things are made
its a graph about economic stuff
10
Mixed Economy
economy organized w some free-market elements and some socialistic elements
something about mixed veggies
idk, I don'y pay attention
What does that mean?
11
The three economic questions in abbreviations?
HWH
HHW
WWH
WHH
12
Goods
I think its when you pet a dog or something, I don't pay attention
merchandise or possessions
weird stuff, I guess?
things to be transported, as distinct from passengers
13
Scarcity
people satisfy unlimited wants and needs with limited resources.
something that is limited or not abundant
something that is very common
a huge bunch of stuff
14
Market Economy
market economies are where you sell to get something in return?
you buy stuff a lot
economic system production and prices are determined by unrestricted comp
you sell things all the time of course
15
What are Natural resources/land?
video games
crackers
Natural resource lands are agricultural, forest, and mineral lands.
water, plants and things like trees
16
Opportunity Cost
Ihave no idea
the forgone benefit that would have been derived from an option
loss of potential gain from other alternatives when one alternative chosen
the meaning of stores
17
What does the word Needs mean?
A need is to play video games all day
A need is like water and food or supplimenty supplies
A need is something that you have to have to remain alive
A need is to constantly eat sugar
18
Do you know what Capital Resources are?
their food!
their plants and gardens...duh, man
aren't they drinks?
the man-made tools, machines, or locations used in the manufacturing goods
19
What do the words Human Resource/labor mean?
shoveling and doing things for money or to just help out
staring at a shovel for five hours
the set of people who make up the workforce of an organization, business
sleeping...all day, don't ask why this is in here
20
Specialization
the consumption of junk food in the world on a pie chart
branch of knowledge concerned with production, consumption, trans of wealth
chicken
How the world functions
21
What is the definition of Economics?
the calculations of wealth
the wealth of children
wealth and resources of a country or region, terms of the production
the wealth of adults
22
Traditional Economy
a system that relies on customs, history, and time-honored beliefs.
something about beliefs
I think its those in which customs and traditions are more important
something about money
