Economics 101

You down with PPC?

100

3 letter abreviation for the graph that tracks the possibility of production.

PPC

200

The value of the next -best alternative that you give up when you make a choice.

Opportunity Cost

300

Any coordinate on the PPC that falls below the line

Inefficient

400

Any point on the PPC line represents this

Efficiency

500

Your company makes pens and pencils.  You decide to move from making 5,000 pencils and 3,000 pens to making 7,000 pencils and 1,000 pens.  What is your opportunity cost.

2,000 Pens

Bust Down Rollie

100

Gasoline is this type of good

Consumable Good

200

Your local library is this type of good.

Public Good

300

A website that helps you build a Jeopardy game on your computer for a $2 annual payment.

Subscrition Service/ Good

400

A Cartier Watch

Luxury Good

500

This word means the study of choice.

Economics

Production Junction

100

A band members drum is an example of 

Physical Capital

200

Jeff Bezos the founder of Amazon which started as an online bookstore is known as this 

Entreprenuer

300

A graduate from The Culinary Institute of America has this type of capial

Human or Human Capital

400

Hiring a new auto mechanic at Tires Plus is an example of this type of production

Labor

500

The grain a baker uses is an example 

Land Production