Search results
Study with Quizlet and memorize flashcards containing terms like Want a system where it isn't doing something "dumb," (at least we don't want a system where a change (reallocation) to the system could make people _____., The source of social surplus, the _____., There are 2 gains from each economic transaction, (1) the price to the seller above her _____.
Study with Quizlet and memorize flashcards containing terms like the phases of the business cycle, An economic shock for an economy refers to the general situation where:, If prices are "sticky" in an economy, then the economy will respond to demand shocks primarily through changes in and more.
Equation for Economic Profit. Economic Profit = Total revenue - Explicit costs - Implicit costs. Production Function. This is the relationship between quantity of inputs and the resulting quantity of outputs. Marginal Product. This is the increase in output that is generated by an additional unit of input.
Test yourself with these interactive revision quizzes and similar online activities
Khan Academy
Sep 14, 2021 · For instructors – use Quizlets live in your class. The updated CORE glossary, available in The Economy ebook and on the CORE website, has proved very popular. But our students asked for more help in learning and revising our course, and a glossary spreadsheet isn’t very useful for that. So we have also taken the glossary for all The Economy ...
Data are important in economics because _____ and _____ A) they suggest relationships for explanation, allow testing of hypotheses: B) they can be used for tables, they can be graphed: C) they can be used in computers, governments use them: D) they provide interesting information, can be summarised
