Relacionar Columnas FundamentalsVersión en línea Match term with definition por Annette King 1 positive incentive 2 factors of production (productive resources) 3 entrepreneurship 4 labor 5 scarcity 6 human capital 7 marginal cost 8 negative incentive 9 rational choice 10 marginal benefit 11 capital 12 incentive 13 opportunity cost 14 economics 15 Land natural resources used in production additional cost of consuming one more unit of a good or service human mental and physical activity used in production of goods and services rewards that encourage behaviors next best alternative; what is given up when an economic choice is made skills, knowledge, and experience a person has to contribute to the production process the study of how we allocate limited resources to satisfy unlimited wants and needs motivates individuals, businesses, and governments to undertake an action or to avoid an action. decisions based on cost/benefit analysis MB > or = MC additional satisfaction gained from consuming one additional unit of a good or service penalties that are intended to discourage behaviors basic economic problem of limited resources and unlimited wants inputs used to make goods and services tool, machines, factories, roads, etc. used in the production of goods and services risk-taking of organizing the other factors of production to earn a profit
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