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20 Cards in this Set
- Front
- Back
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Benefit
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An improvement, Individuals pursue activites that improve their existing condition
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Economic Costs
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Everything Sacrifed to obtian a good or service
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Economics
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how people behave in buying in selling
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Goods and Services
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stuff and process
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Hypothesis
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"Best Guess"
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Incentives
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enables or motivates a particular course of action, or counts as a reason for preferring one choice to the alternatives
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Law
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Simple and explains/ predicts an event that can be observed and verified
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Macroeconomics
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deals with the performance, structure, and behavior of a national or regional economy as a whole
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Margin/Marginal
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The edge--Just a tiny bit more-- characterized by the question "How much?"
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Marginal Benefit
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The amount(how much) of improvement recived from the very next one
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|
Benefit
|
An improvement, Individuals pursue activites that improve their existing condition
|
|
|
Economic Costs
|
Everything Sacrifed to obtian a good or service
|
|
|
Economics
|
how people behave in buying in selling
|
|
|
Goods and Services
|
stuff and process
|
|
|
Hypothesis
|
"Best Guess"
|
|
|
Incentives
|
enables or motivates a particular course of action, or counts as a reason for preferring one choice to the alternatives
|
|
|
Law
|
Simple and explains/ predicts an event that can be observed and verified
|
|
|
Macroeconomics
|
deals with the performance, structure, and behavior of a national or regional economy as a whole
|
|
|
Margin/Marginal
|
The edge--Just a tiny bit more-- characterized by the question "How much?"
|
|
|
Marginal Benefit
|
The amount(how much) of improvement recived from the very next one
|
