List of basic economic terms
[DOCX File]Basic Economic Concepts-Unit 1 (8-14%) Module (s) 1, 3, &4
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– The student will explain how productivity, economic growth, and future standards of living are influenced by investment in factories, machinery, new technology, and the health, education, and training of people. Terms to know: You are responsible for knowing . ALL. the terms in …
[DOC File]ECONOMICS SBA - Weebly
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Basic Economics and the American Economic System. What is economics? Provide an example of a need and a want. During Arctic Survival, how was scarcity illustrated? During Arctic Survival, how were economic models used? What is a trade-off? Provide an example of a trade off and an opportunity cost. List and define the four factors of production ...
[DOC File]Study guide for Economics Unit I test
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demonstrated a grasp of the meaning of basic economic facts, concepts and principles; explained familiar economic phenomena in terms of theories, models, laws and principles; developed a research design that provides a sound and efficient basis for drawing reasonable conclusions. Application/Analysis (20 marks)
[DOC File]EOC Review Sheet #1
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In terms of Adam Smith’s concept of the invisible hand, an efficient overall allocation of resources is likely to result from: the regulation of markets by economic planners. the operation of command rather than market economies.
List of Economic Terms | Bizfluent
[list the four factors below] Condition that is created by people’s seemingly unlimited wants and relatively limited resources _____ 1. Study of how people try to satisfy their wants through the careful use of scarce resources _____ 2. What to produce _____ 3. A basic requirement for survival like foods, shelter, clothing.
[DOC File]Learning Economic Terms Worksheet - Social Studies
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Unit 1 - Basic Economic Concepts. Team Vocabulary Project . The following is a partial list of terms and concepts you will be learning in Unit 1 (Chapters 1 - 3). Every term listed below must be included in your picture book. Do not use the textbook definition – make sure you use them in context and provide pictures to demonstrate your ...
[DOC File]Sample Questions for Case & Fair, Principles of Economics ...
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Practice FP questions for the test. Please refer to the following chart to answer question number 1. Federal Reserve Tools Fiscal Policy Tools Discount rate taxing Reserve Requirement spending borrowing One tool is missing from the Federal Reserve’s list of tools.
[DOC File]Edu @ Thinus - Home
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List the three basic economic questions that all societies must answer. (1.) What will be produced? (2.) How will it be produced? (3.) Who will get what is produced? Difficulty: E Type: F Explain the economic concept of opportunity cost. The opportunity cost of something is the best alternative that we give up when we make a choice or a decision.
[DOC File]Vocabulary for Project
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Prosperity – is economic growth, increased output of goods and services and high consumer spending. Recession – is economic slowdown, rising unemployment with fewer goods and services produced and consumer spending decreases.
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