G11
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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| Microeconomics | show 🗑
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| show | Economy as a whole
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| show | Rate of price increase
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| show | Free market
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| Utility | show 🗑
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| Efficiency | show 🗑
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| show | Unlimited wants, limited FOPS
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| Market | show 🗑
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| Monopoly | show 🗑
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| show | Direct/indirect payment to individuals or firms from the government/targeted tax cut
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| Invisible hand | show 🗑
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| show | Planned economy, central government controls the means of production
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| show | Mandatory payment or charge collected by local, state and national governments from individuals or businesses to cover costs of government funded goods/services
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| show | Price you pay to borrow money or the return earned on an investment
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| show | Refers to current level of production
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| show | Potential production depending on highest level of efficiency
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| GDP | show 🗑
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| show | Model of how money moves through society
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| PPC | show 🗑
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| show | Relies on experiments and evidence of consumer behaviorq
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| Factor payments | show 🗑
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| Opportunity cost | show 🗑
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| show | Withdrawal of income from the flow: Savings, taxes, imports
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| show | Introduction of income into the flow: Investment, government spending, exports
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| show | Economy shrinks
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| show | Economy grows
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| Positive economics | show 🗑
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| show | Identifies important econ, problems and prescribes what should be done to solve them
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| show | Describe: Economic growth has increased from _ to _ in the last _
Explain: The increase in the price of _ has resulted in _
Predict: _ will happen
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| Example of N.E | show 🗑
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| show | Individual consumer's willingness/ability to buy goods/services at different prices at a specific time period
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| Ceteris paribus | show 🗑
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| Negative causal relationship | show 🗑
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| Axes | show 🗑
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| Law of demand | show 🗑
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| Non price determinants of demand | show 🗑
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| show | Chocolate / gummy bears - Animal products / plant based products
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| show | Phone / phone case - Fries / ketchup
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| show | Individual firm's willingness and ability to produce various quantities of goods/services at different prices during a specific time period
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| Law of supply | show 🗑
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| Non price determinants of supply | show 🗑
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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:
LimppuBiscuit
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