Micro/Macro Economics Test Review
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| Produce | show 🗑
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| show | Actions that encourage or discourage people from doing something
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| show | The Maximum price that can be placed on a good or service
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| show | The Minimum price that can be placed on a good or service
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| show | Goods that are necessities
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| Wants | show 🗑
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| show | How much of a good demanded or supplied changes when its price changes
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| Inelastic demand | show 🗑
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| Masimize | show 🗑
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| show | the total income received from an economic action
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| show | Change in benefit in response to a specific action
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| show | the cost associated with one additional unit of production
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| Marginal revenue | show 🗑
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| show | income received from an economic action minus the cost of taking the action
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| show | a favorable occasion to complete or participate in something
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| show | the ability of one party to produce a good or service at a lower cost than any other competitor
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| show | the ability of one party to produce a good or service at a lower opportunity cost than any competitor
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| Efficient | show 🗑
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| Specialization | show 🗑
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| compete | show 🗑
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| show | a market structure in which many sellers produce the same item but each producer sets its own price and quality without impacting the whole market
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| show | a market that has a single supplier of a good or service
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| show | a market situation that exists when there are few businesses in a marketplace
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| show | a market with many sellers of products, free flow of information and free entry to and exit from the marketplace
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| Sovereignty | show 🗑
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| show | the study of economics with a focus on large groups or units such as nations
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| show | a total amount
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| show | a subdivision within an economy
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| Gross Domestic Product | show 🗑
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| Indicators | show 🗑
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| show | the goods and services produced by an economy
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| show | per person
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| show | something that balances or makes up for something else
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| show | the situation of not having a paid job, or the number of workers without jobs
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| show | increase or enlargement
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| show | the money a person earns for providing a service or selling goods
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| Ownership | show 🗑
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| show | land or goods owned and used by a person
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| Public property | show 🗑
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| wealth gap | show 🗑
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| show | what happens when two or more parties seek the same prize or benefit
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| restrict | show 🗑
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| show | the placing of limits or restrictions on business activity by government
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| Free enterprise | show 🗑
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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.
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.
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:
coach_fletcher
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