BA-110-01

ba-110-01

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The economic perspective focuses largely on _________________ -comparisons of marginl benefis and marginal costs. To economists, “marginal” means “extra,” “additional,” or “a change in”.

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The process of developing hypotheses, testing them against facts, and using the results to construct theories is called:

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Most choices or decisions involve changes in the status quo. STATUS QUO means....

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What is the economic meaning of the “there is no such thing as a free lunch”?

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The comparison of marginal (“extra” or “additional”) benefits and marginal costs, usually for decision making. This is called..

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The principle that as the production of a good increases, the opportunity cost of producing an additional unit rises. This is called?

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What is GENERALIZATION?

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The statement that “the unemployment rate will increases as the economy moves into a recession” is an example of:

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What is the microeconomic challenge?

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Economic is....

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What is the example of GENERALIZATION?

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What is the definition of MACROECONOMICS?

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By ECONOMIC RESOURCES we mean all natural, human, and manufactured resources that go into the production of goods and services. That includes the entire set of factory and farm buildings and all the equipment, tools, and machinery used to produce manufactured goods and agricultural products; all transportation and communication facilities; all types of labor; and land and mineral resources.

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Define..

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Capital goods
Consumer goods
Capital

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Products and services that satisfy human wants directly.
Human-made resources (building, machinery and equipment) used to produce goods and services.
Goods that do not directly satisfy human wants.

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Having more of one thing means having less of something else.

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BA-110-01

Question 1 of 1

Time Left

The economic perspective focuses largely on _________________ -comparisons of marginl benefis and marginal costs. To economists, “marginal” means “extra,” “additional,” or “a change in”.

Select the correct answer(s).

(0/0)

The process of developing hypotheses, testing them against facts, and using the results to construct theories is called:

Select the correct answer(s).

(0/0)

Most choices or decisions involve changes in the status quo. STATUS QUO means....

Select the correct answer(s).

(0/0)

What is the economic meaning of the “there is no such thing as a free lunch”?

Select the correct answer(s).

(0/0)

The comparison of marginal (“extra” or “additional”) benefits and marginal costs, usually for decision making. This is called..

Fill in the blanks

(0/0)

The principle that as the production of a good increases, the opportunity cost of producing an additional unit rises. This is called?

Select the correct answer(s).

(0/0)

What is GENERALIZATION?

Select the correct answer(s).

(0/0)

The statement that “the unemployment rate will increases as the economy moves into a recession” is an example of:

Select the correct answer(s).

(0/0)

What is the microeconomic challenge?

Fill in the blanks

(0/0)

Economic is....

Select the correct answer(s).

(0/0)

What is the example of GENERALIZATION?

Select the correct answer(s).

(0/0)

What is the definition of MACROECONOMICS?

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

Define..

Match the text (click and drag)

(0/0)

Capital goods

Consumer goods

Capital

Products and services that satisfy human wants directly.

Human-made resources (building, machinery and equipment) used to produce goods and services.

Goods that do not directly satisfy human wants.

Having more of one thing means having less of something else.

Select the correct answer(s).

(0/0)

Results

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0

Incorrect

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