Basic Economics TerminologyVersión en línea Vocabulary to rewiew basic economics por ALBERDI ANE 1 Grupo 1 2 Grupo 2 3 Grupo 3 4 Grupo 4 5 Grupo 5 6 Grupo 6 7 Grupo 7 8 Grupo 8 WANT Goods and services that are not necessary for survival HOUSEHOLD A house and its occupants regarded as a unit Essential goods and services required for human survival NEEDS MICROECONOMICS The part of the economics concerned with single factor and the effects of individual decisions MACROECONOMICS The branch of economics concerned with large-scale or general economic factors , such as interest rates and national productiviry. OPPORTUNITY COST The monetary value of the option that I rejected when I have to choose betwen two ooptions SERVICE Non-physical items which cover needs or wants GOODS physical items which cover needs or wants
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