Microeconomics

Front

Refers to the used of goods and services.

Back

Consumption

Front

Refers to the transformation of resources like land, labor, capital and entrepreneur into goods and services.

Back

Production

Front

Goods include all tangible items, except: Furniture, House, Machines, Transportation

Back

Transportation

Front

The following choices below are basic needs, except: Food, Shelter, Branded Clothing, Water

Back

Branded Clothing

Front

Refer to the study of the economic behaviour of individual components like industries, firms, and households.

Back

Microeconomics

Front

Refers to all plots of ground and other natural resources used in the production of goods and services.

Back

Land

Front

It is the main reason why there is a study of microeconomics.

Back

Scarcity

Front

Among them are famous economist, except: Karl Marx, Adam Smith, George Washington, John Maynard Keynes

Back

George Washington

Front

The following are the factors of production, except: Land, Labor, Fish Pond, Capital

Back

Fish Pond

Front

A major player in the economics whose main function is to consume goods and services

Back

Household