Relacionar Columnas 1. Macroecon: Basic Vocab MatchVersión en línea Adapted from https://www.daveforrest.net/Economics/ap-economics-studyguide.pdf por Shaner Adams 1 Normative Economics 2 Rational Self Interest 3 Shortage 4 Labor 5 Necessities 6 Resources 7 Luxuries 8 Three Factors of Production: 9 Macroeconomics 10 Land 11 Positivist Economics: 12 Scarcity 13 Producer Goods 14 Capital 15 Economics 16 Consumer Goods Land, Labor, Capital. products used to make consumer goods. For example: hammer and cranes. we never have enough of these to satisfy all of our wants. factories, machines (producer goods), and money. the study of the economy as a whole. products used for immediate consumption. For example: cars, food, toys. goods which consumers want, but don’t need 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. a short term lack of a product or resource. goods which satisfy basic human needs. the lack of a product or resource. focus on measurable outcomes mental and physical labor such as autoworkers or scientists. 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 the study of how scarce resources are used to satisfy unlimited wants.