Economics
The part of economics that is concerned about factors as a whole or on a large-scale
What is Macroeconomics
The limit of resources resulting in too few of supply.
What is scarcity
The cost spent over the cost already spent
What is marginal cost
Theorems are prepositions that follows the assumptions of what
What is Models
The study of the individual choice and how it is affected by economic forces
What is Microeconomics
The price mechanism that guides our own actions in the market
What is the Invisible Hand
The additional benefit exceeding the service
What is marginal benefit
A ___ is built off Of ones empirical facts.
What are Theorems
Economics study these three things
What is what and how much to produc, how t produce it and for whom
Force that has given free reign on society to work through the market
What is market forces
Who uses economic reasoning to explain why people become drug dealers
Who is Levitt
Yes/No: Are these policies rules/ laws?
What is No, they are neither rules or laws.
Actions taken by the government to influence economic actions
what is economic policies
These forces work against the invisible hand
what is social and political forces
The marginal benefit exceeds the marginal cost.
what is Do it
True or False: Scientist use empirical facts in there studies
True: scient compare their studies with the facts
Lab, field, computer and natural experiments are part of this study
What is experimental economics
The next best option in the market is
What is opportunity cost
The marginal cost exceeds the marginal benefit
What is don’t do it
The finds of the pure theory of economics and empirical regulatory
What is empirical facts