Economics

Economics

Assessment

Flashcard

Social Studies

12th Grade

Hard

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27 questions

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1.

FLASHCARD QUESTION

Front

A small incremental adjustment to a plan of action.

Back

Marginal Change

2.

FLASHCARD QUESTION

Front

An economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.

Back

Market Economy

3.

FLASHCARD QUESTION

Front

People who systematically and purposefully do the best they can to achieve their objectives.

Back

Rational People

4.

FLASHCARD QUESTION

Front

Fluctuations in the economic activity such as employment and production.

Back

Business Cycle

5.

FLASHCARD QUESTION

Front

The quantity of goods and service produced from each labor input.

Back

Productivity

6.

FLASHCARD QUESTION

Front

The study of how society manages its scarce resources.

Back

Economics

7.

FLASHCARD QUESTION

Front

An increase in the overall level of prices in the economy.

Back

inflation

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