Economics
eco
eco
Kartei Details
| Karten | 22 |
|---|---|
| Sprache | English |
| Kategorie | BWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 07.01.2023 / 09.01.2023 |
| Lizenzierung | Keine Angabe |
| Weblink |
https://card2brain.ch/box/20230107_economics
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| Einbinden |
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- What is the main focus of economics?
Economics is the study of how people and societies choose to use limited resources to satisfy their unlimited wants.
- What is the opportunity cost of an activity?
The opportunity cost of an activity is the value of the next-best alternative foregone.
- What is an incentive?
What is the basic economic problem?
- What is the basic economic problem?
The basic economic problem is the scarcity of resources, which forces people to make choices about how to allocate them.
- What is the difference between production and consumption?
Production is the process of creating goods and services, while consumption is the use of goods and services to satisfy wants and needs.
- What is specialization and how does it increase efficiency and productivity?
Specialization is the concentration of production on a limited number of goods or tasks, which allows for increased efficiency and productivity.
- What is a market?
A market is a mechanism through which buyers and sellers interact to exchange goods and services.
- How is the price of a good or service determined in a market?
The price of a good or service is determined by the interaction of supply and demand in the market.
