
Microeconomics Concepts
Flashcard
•
Other
•
10th Grade
•
Practice Problem
•
Hard
Ei Kay Pai
FREE Resource
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16 questions
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1.
FLASHCARD QUESTION
Front
What is a central idea in microeconomics?
Back
The market.
2.
FLASHCARD QUESTION
Front
What is a market?
Back
An interrelated system where people produce and sell what others want to buy.
3.
FLASHCARD QUESTION
Front
What do people who make and sell things want to achieve?
Back
They want to make a profit.
4.
FLASHCARD QUESTION
Front
What are goods?
Back
Things that people make and sell, like clothes, food, computers, or cars.
5.
FLASHCARD QUESTION
Front
What are services?
Back
Things that people do for other people, like giving haircuts, serving food, or driving taxis.
6.
FLASHCARD QUESTION
Front
What are the central concerns of economics?
Back
Production, distribution, cost, price, supply, and demand.
7.
FLASHCARD QUESTION
Front
What does production refer to in economics?
Back
Which goods and services are made, how they are made, and how much or how many are made.
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