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WorksheetsEPF Unit 1.1
Total questions: 10
Worksheet time: 5mins
The study of large - scale economies; economic decisions of a nation/government
macroeconomics
microeconomics
trickle down economics
market economy
The study of the behaviors and decisions made by individuals, households, and firms; economic decisions of individual and firms
macroeconomics
microeconomics
command economy
market economics
An economic system where the decisions of what, how and for whom to produce are based on custom or habit
Command Economy
Mixed Economy
Traditional Economy
Market Economy
An economic system where the major economic decisions are made by the central government
Market Economy
Traditional Economy
Mixed Economy
Command Economy
A system in which economics decisions and pricing are guided by the interactions of citizens and businesses
Market Economy
Command Economy
Traditional Economy
Mixed Economy
Economic system that has characteristics of both a market and command economy
Traditional Economy
Mixed Economy
Market Economy
Command Economy
what you have to give up to buy what you want in terms of other goods or services
free choice cost
opportunity cost
market cost
unknown cost
Measures the overall change in consumer prices based on a representative basket of goods and services over time
the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period
When someone keeps doing something just because they already spent time, money, or effort on it—even if it no longer makes sense.
