1. Macroecon: Basic Vocab Match

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Relacionar Columnas 1. Macroecon: Basic Vocab MatchVersión en línea Adapted from https://www.daveforrest.net/Economics/ap-economics-studyguide.pdf por Shaner Adams 1 Economics 2 Consumer Goods 3 Scarcity 4 Shortage 5 Capital 6 Positivist Economics: 7 Resources 8 Rational Self Interest 9 Macroeconomics 10 Normative Economics 11 Labor 12 Producer Goods 13 Luxuries 14 Land 15 Three Factors of Production: 16 Necessities products used for immediate consumption. For example: cars, food, toys. economists believe that people choose options that give them the greatest satisfaction. People use available information, weigh costs and benefits, and make a self-interested choice. factories, machines (producer goods), and money. products used to make consumer goods. For example: hammer and cranes. the study of how scarce resources are used to satisfy unlimited wants. the lack of a product or resource. goods which satisfy basic human needs. focus on measurable outcomes the question of what we should do. The analysis of the economy as an ethical value judgment. natural resources such as trees, water, or minerals Land, Labor, Capital. we never have enough of these to satisfy all of our wants. goods which consumers want, but don’t need a short term lack of a product or resource. the study of the economy as a whole. mental and physical labor such as autoworkers or scientists.

Relacionar Columnas

1. Macroecon: Basic Vocab MatchVersión en línea

Adapted from https://www.daveforrest.net/Economics/ap-economics-studyguide.pdf

por Shaner Adams

Economics

Consumer Goods

Scarcity

Shortage

Capital

Positivist Economics:

Resources

Rational Self Interest

Macroeconomics

Normative Economics

Labor

Producer Goods

Luxuries

Land

Three Factors of Production:

Necessities

products used for immediate consumption. For example: cars, food, toys.

economists believe that people choose options that give them the greatest satisfaction. People use available information, weigh costs and benefits, and make a self-interested choice.

factories, machines (producer goods), and money.

products used to make consumer goods. For example: hammer and cranes.

the study of how scarce resources are used to satisfy unlimited wants.

the lack of a product or resource.

goods which satisfy basic human needs.

focus on measurable outcomes

the question of what we should do. The analysis of the economy as an ethical value judgment.

natural resources such as trees, water, or minerals

Land, Labor, Capital.

we never have enough of these to satisfy all of our wants.

goods which consumers want, but don’t need

a short term lack of a product or resource.

the study of the economy as a whole.

mental and physical labor such as autoworkers or scientists.

1. Macroecon: Basic Vocab Match

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Relacionar Columnas

1. Macroecon: Basic Vocab MatchVersión en línea

por Shaner Adams

Economics

Consumer Goods

Scarcity

Shortage

Capital

Positivist Economics:

Resources

Rational Self Interest

Macroeconomics

Normative Economics

Labor

Producer Goods

Luxuries

Land

Three Factors of Production:

Necessities