Thursday
October 23, 2014

Homework Help: Social studies

Posted by Sam on Monday, March 23, 2009 at 9:15pm.

Could you please check these other sets of terms.

Here are the terms:

scarcity
cost benefit analysis
marginal revenue
needs
incentives
economy
opportunity cost
variable costs
capitalism
marginal cost

food, clothing,shelter, and other things required for survival.
Answer: needs

occurs when people lack the resources to produce the things they want.
Answer: scarcity

all activity that together affects making, selling, and using goods and services.
Answer: economy

what you cannot buy or do when choosing to do one thing rather than another.
Answer: opportunity cost

economic model compairng marginal costs and marginal benefits of a decision
Answer: cost benefit analysis

economic system in which individuals own the means of production.
Answer: capitalism

something offered in an attempt to get consumers to take certain economic actions.
Answer: incentives

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