the study of how individuals and societies satisfy their unlimited wants with limited resources

situation that exists when there are not enough resources to meet human wants

the alternative someone gives up when making an economic choice

the value of something that is given up by choosing one alternative over another

the additional cost of producing or using one more unit of a good or service

the benefit or satisfaction gained from using one more unit of a good or service

graph used to illustrate the impact of scarcity on an economy

the practice of examining the costs and the expected benefits of a choice as an aid to decision making

the study of the behavior of the economy as a whole; large scale economics

the study of behavior of individuals in an economy (individuals, families, businesses)

Teachers: Create FREE classroom games with your questions Click for more info!
©2007-2024 Review Game Zone | About | Privacy | Contact | Terms | Site Map