Microeconomics
vorbereitung klausur wintersemester 2016
vorbereitung klausur wintersemester 2016
104
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Set of flashcards Details
| Flashcards | 104 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 03.01.2017 / 01.01.2018 |
| Licencing | Not defined |
| Weblink |
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Def Opportunity Costs
The cost of the best alternative that we forgo, or give up, when we make a choice or a decision
Def Marginalism
The process of analysing the additional or incremental costs or benefits arising from a choice or decision
Def Efficient Markets
A market in which profit opportunities are eliminated almost instantaneously
Two Types of Needs
material things and services versus immaterial things
