Econ Ch 1
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| Law of Unintended Consequences | show 🗑
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| Primary Effect | show 🗑
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| Secondary Effect | show 🗑
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| How does policy act when the secondary effect is greater than the primary? | show 🗑
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| How does policy act when the secondary effect is less than the primary? | show 🗑
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| show | Scarcity, rationality, and self-interest
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| show | Economic goods
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| Scarcity | show 🗑
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| Rationality | show 🗑
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| Does a rational person move towards or away from their goal? | show 🗑
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| show | Irrational
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| show | Care more about your own goals than that of others
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| show | Total benefits-total cost
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| show | Total economic surplus is maximized
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| show | Cost benefit principle
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| show | When a cost/benefit is changed for behavior
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| show | Additional benefit when consuming one more unit of good
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| show | Additional cost increased by producing one more unit of good
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| When is economic surplus maximized? | show 🗑
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| Law of Diminishing Marginal Benefit | show 🗑
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| show | Change in total benefit over change in consumption
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| Law of Increasing Marginal Cost | show 🗑
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| What is the equation for marginal cost? | show 🗑
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| show | Interactions between buyers and sellers in indiv. markets
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| Macroeconomics | show 🗑
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| show | Shown true or false based on objective facts
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| show | Positive
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| show | Based on subjective value judgements of right or wrong
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| show | Positive
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| show | Normative
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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:
MikalahQuillen
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