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5 Cards in this Set
- Front
- Back
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Microeconomics |
The branch of economics that focuses on the choices made by individual decision-making units in the economy - typically consumers and firms - and the impacts those choices have on individual markets. |
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Fallacy of False Cause |
Reaching the incorrect conclusion that one event causes another because the two events tend to occur together. |
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Macroeconomics |
The branch of economics that focuses on the impact of choices on the total, or aggregate, level of economic activity. |
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Choice at the Margin |
A decision to do a little more or a little less of something, which can lead to extremely useful insights. |
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Margin |
The current level of an activity. |
