Naomi Charlene
Karten 112 Karten
Lernende 5 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 25.09.2018 / 10.01.2020
Lizenzierung Keine Angabe
0 Exakte Antworten 112 Text Antworten 0 Multiple Choice Antworten
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production possibilities frontier

is a curve which shows various combinations of set of two goods which can be produced with the given resources and technology where the given resources are fully and efficiently utilized per unit time

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positive analysis

describe world as it is, descriptive analysis

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normative analysis

statement how the world should be, prescriptive analysis

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efficiency means that a society gets gets the most, that it can from its scarce resources

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equity means that benefits of this resources are fairly distributed among members of society

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oportunity cost

what you give up to obtain item

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market failure

when market fails to allocate resources efficiently

may happen when: externality or market power

Fenster schliessen


gross domestic product: GDP is the total market value of all final goods and services produced within a country in a given period of time. (excludes items that are sold illicitly, items that are produced and used at home, never enter marketplace)