

Экономические термины
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
Medium
Iryna G
Used 2+ times
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21 questions
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1.
FLASHCARD QUESTION
Front
Alternative Costs
Back
the cost of the next best alternative that is forgone when making an economic decision.
2.
FLASHCARD QUESTION
Front
Distributional Efficiency
Back
it is impossible to make someone better off without making someone else worse off.
3.
FLASHCARD QUESTION
Front
Performance
Back
a measure of efficiency that assesses the ratio of inputs to outputs.
4.
FLASHCARD QUESTION
Front
Specialization
Back
the process by which an organization focuses its workforce and resources on a specific type of production to increase efficiency and create a comparative advantage for the economy.
5.
FLASHCARD QUESTION
Front
Effective demand
Back
demand supported by the ability to pay for it.
6.
FLASHCARD QUESTION
Front
Normal goods
Back
goods or services for which demand increases as income rises.
7.
FLASHCARD QUESTION
Front
Inferior goods
Back
goods or services for which demand decreases as income rises.
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