Экономические термины

Экономические термины

Assessment

Flashcard

Business

12th Grade

Medium

Created by

Iryna G

Used 2+ times

FREE Resource

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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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