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Social Studies

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Could you please check the definition that matches with the term.

Here are the terms:

free enterprise
Economics
trade-off
economic models
market econonmy
total costs
wants
marginal benefit
fixed costs
rational choice

Here are the definitions

study of the production, distribution, and consumption of goods and services.
Answer: economics

theories economists use in their work
Answer: economic models

exchanging one thing for the use of another
Answer: trade-off

additional benefit associated with an action
Answer: marginal benefit

economic climate in which most decisons are masde by individuals looking out for themselves.
Answer: market economy

  • Social Studies -

    Right. All of the answers are correct.

  • Social Studies -

    Thanks Ms. Sue

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