Econ Ch. 2 vocab
Flashcard
•
Social Studies
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Accepted as true
Back
assumption
2.
FLASHCARD QUESTION
Front
Variable change in opposite directions
Back
Inverse
3.
FLASHCARD QUESTION
Front
Economic analysis based on value judgements
Back
normative
4.
FLASHCARD QUESTION
Front
Economic analysis based on testable facts.
Back
positive
5.
FLASHCARD QUESTION
Front
Deciding how much more/less to do
Back
Marginal analysis
6.
FLASHCARD QUESTION
Front
Gained from 1 more:
Back
marginal benefit
7.
FLASHCARD QUESTION
Front
Additional investment needed for 1 more unit.
Back
marginal cost
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