Economics Vocab Flashcard
Flashcard
•
Social Studies
•
10th - 11th Grade
•
Hard
Wayground Content
FREE Resource
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10 questions
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1.
FLASHCARD QUESTION
Front
Social science studying production, distribution, and consumption of goods/services.
Back
Economics
2.
FLASHCARD QUESTION
Front
Finite resources limit production of economic goods.
Back
Scarcity
3.
FLASHCARD QUESTION
Front
A means by which societies or governments organize and distribute resources, services, and goods across a region.
Back
Economic System
4.
FLASHCARD QUESTION
Front
Loss of potential gain from other alternatives when one is chosen.
Back
Opportunity Cost
5.
FLASHCARD QUESTION
Front
Costs that change with the quantity produced.
Back
Variable Cost
6.
FLASHCARD QUESTION
Front
Sum of all costs incurred by a firm in producing output.
Back
Total Cost
7.
FLASHCARD QUESTION
Front
Total income from primary operations of a company.
Back
Revenue
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