Flow Diagram
Vocab
100
which of the four market participants spend money for products
what is households
100
What is large-scale or national economics
What is macroeconomics?
200
Which of the four market participants creates goods from firm supplies/services
What is Product Markets-Retail
200
something that's already bought and you can't get it anymore
What is sunk cost
300
Which of the four market participants receives resources to assemble product pieces
What is a Firm-Manufacturer
300
what is another name for small scale economics
What is microeconomics
400
Which of the four market participants gathers resources to provide income
What is Resource Markets
400
value of something passed up for something else.
What is opportunity cost
500
Name the four types of participants
What is Households, Firms, Government, the remaining World
500
the worker, firm, region, or country with the lowest opportunity cost of producing an out put that is specialized in making that output
What is law of comparative advantage
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