the study of how people make choices

Duplicate of Economics Basics part Deux Flashcards

1

Making a T-shirt is a process that occurs in many different countries.

Trade
Microeconomics
Macroeconomics
Globalization

2

Cost...

arm and a leg
is the price of something
real income spent on something
is that which is given up

3

The most valuable alternative given up is...

value added
cost
super trade-off
opportunity cost

4

TPP

Microeconomics
Macroeconomics
Globalization
Trade

5

Federal income tax policy...

Microeconomics
Trade
Globalization
Macroeconomics

6

You lose your job...

Macroeconomics
Trade
Globalization
Microeconomics

7

The entire market for coal...

Macroeconomics
Microeconomics
Globalization
Trade

8

When you are presented with two or more choices, that is known as a...

super choice
conundrum
trade off
binary choice

9

Individual purchasing choices...

Microeconomics
Globalization
Macroeconomics
Trade

10

NAFTA

Macroeconomics
Trade
Microeconomics
Globalization

11

Shortages...

always exist
exist only in the short term
sometimes exist
exist only around Black Friday

12

Monsanto (international seed company) lays off 10,000 workers.

Macroeconomics
Microeconomics
Globalization
Trade

13

Economics is...

the study of how people make choices
the study of choices
banks, finances, money, etc.
study of choice theory

14

What you get back for what you invest is...

Return on Investment
Compensation
Dolla' bills y'all!!!
Money

15

Scarcity...

exists only in the short term
always exists
sometimes exists
never exists

16

It makes everyone better off...

Trade
Microeconomics
Globalization
Macroeconomics

17

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

Economics Self Interest
Priority numero uno
Economic Achievement
Economic Primary Action

Duplicate of Economics Basics part Deux

Questions 17

Duplicate of Economics Basics part Deux

Questions 17