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Erstellt / Aktualisiert 18.09.2021 / 27.09.2021
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Fenster schliessen

resources at the disposal of economies

- land - all the natural resources of the earth

- labour - the human effort, both mental and physical that goes in production

- capital - the equipment and structures used to produce goods and services

Fenster schliessen

scarcity

the limited nature of society's resources / knappheit

Fenster schliessen

economics 

the study of how society manages its scarce resources

Fenster schliessen

trade-off

the loss of the benefits from a decision to forego or sacrifice one option balanced against the benefits incurred from the choice made / Kompromis

Fenster schliessen

equity

the property of distributing economic prosperity fairly among the members of society

- die Eigenschaft, den wirtschaftlichen Wohlstand gerecht auf die Mitglieder der Gesellschaft zu verteilen

Fenster schliessen

opportunity cost

whatever must be given up to obtain some item; the value of the benefits foregone (sacrificed)

Fenster schliessen

marginal changes 

small incremental adjustments to a plan of action / kleine schrittweise anpassungen an einen plan

Fenster schliessen

economic agents

an individual, firm or organization that has an impact in some wax on an economy