scarcity - basic condition that exists when unlimited wants by society exceed limited productive resources, price allocation - distributes goods to those who are willing and able to pay, majority rule - when a group of people vote or seek consensus to decide how a good, service, or factor of production will be distributed, contest - allocation strategy that distributes the resource to the person who wins, force - allocates goods, services, and factors of production by autocratic decisions or coercion that are supported by intimidation or threat of physical harm, sharing - allocates resources jointly between people or organizations, lottery - allocates goods, services, and resources through random selection, authority - relies on the decisions of a powerful person or group of people who make the decisions about who gets to obtain a good, service, or factor of production, first come, first-served - allows people to receive a good, service, or factor of production if they get to it first or are one of the people close enough to the front of the line, personal characteristics - distributes goods, services, and resources based on physical characteristics, need, or merit, factors of production - scarce items used in the production of goods and services in an economy, land resources - gifts of nature we use to produce goods and services, human (or labor) resources - the people involved in the production of goods and services, human capital - the abilities each person brings to the production process, physical capital - refers to tools, machines, equipment, and structures used repeatedly in the production of goods and services, entrepreneurship - brings the productive resources together in innovative ways to produce a product; usually involves taking risks, profit - equal to a firm’s revenue minus its costs, opportunity cost - value of one’s next best alternative given up when a choice is made, rational decision - when marginal benefits are greater than or equal to the marginal costs, marginal benefit - change in total benefit received from one more unit, marginal cost - the change in total cost paid for one more unit, incentive - motivates individuals, businesses, and/or governments to undertake an action or avoid an action, command economy - the three basic economic questions are answered by a central authority or government, market economy - the three basic economic questions are determined by the interactions of buyers and sellers, mixed economy - combination of command and markets, with some industries and markets controlled by government and other industries and producers that are subject to market forces, regulation - rules placed on the production of goods and services by government agencies, specialization - when an entity focuses on one production task or the production of one good in order to increase efficiency, voluntary exchange - occurs when two economic actors willingly trade one item for another because it is mutually beneficial, PPC - an economic model that illustrates possible production combinations, deregulation - when production rules are removed from an industry; lowers costs and increases the quantity produced,
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Economics Unit 1- Fundamentals
שתף
על ידי
Ktrotter1
Economics
עריכת תוכן
הטבעה
עוד
לוח תוצאות מובילות
הצג עוד
הצג פחות
לוח התוצאות הזה הוא כרגע פרטי. לחץ
שתף
כדי להפוך אותו לציבורי.
לוח תוצאות זה הפך ללא זמין על-ידי בעל המשאב.
לוח תוצאות זה אינו זמין מכיוון שהאפשרויות שלך שונות מאשר של בעל המשאב.
אפשרויות חזרה
התאמה
היא תבנית פתוחה. זה לא יוצר ציונים עבור לוח התוצאות.
נדרשת כניסה
סגנון חזותי
גופנים
נדרש מנוי
אפשרויות
החלף תבנית
הצג הכל
תבניות נוספות יופיעו במהלך המשחק.
תוצאות פתוחות
העתק קישור
קוד QR
מחיקה
האם לשחזר את הנתונים שנשמרו באופן אוטומטי:
?