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