• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/6

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

6 Cards in this Set

  • Front
  • Back
cost
something that consumers resources
what was mercantilism
system based on 2 ideas:
-wealth was measured in gold/money
-should export more than import (to get more gold)
Where does wealth actually come from?
production and exchange
what is the specie-flow mechanism?
prices balance out
What do you need to create specialization?
-everyone needs to specialize
-property rights to create the incentive
-freedom to exchange what you make.
does it make sense to do everything you can to find the perfect mate?
generally no. opportunity cost: too much is lost if you focus all your efforts on doing so.