3A Hudson
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Economics | the branch of knowledge concerned with the production, consumption, and transfer of wealth
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| Scarcity | unlimited wants, limited resources
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| Opportunity Cost | A benefit, profit, or value of something that must be given up to acquire or achieve something else
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| Market Economy | money control citizens and businesses. There is little government intervention
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| Equilibrium Price | the market price where the quantity of goods supplied is equal to the quantity of goods demanded.
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| Breakeven Analysis | to determine the number of units the business needs to sell in order to avoid losses.
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| Breakeven Point | total cost and total revenue are equal
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| Business Cycle | fluctuation in economic activity that an economy experiences over a period of time
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| Recession | decline in gross domestic product
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| Depression | a sustained, long-term downturn in economic activity
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| Economic Indicators | statistic about an economic activity. economic performance and predictions of future performance.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
JourniW
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