Allocation Methods

Allocation Analysis of how scarce resources (‘factors of production’) are distributed among producers, and how scarce goods and services are …

section 4 social studies

laissez faire the economic policy of letting owners of industry and business set working conditions without interference.. Let people do …

econ

The negative slope of the production possibilities curve illustrates that: when resources are fully employed, an economy can produce more …

100 Economics Terms

Scarcity the limited nature of society’s resources Economics the study of how society manages its scarce resources Efficiency the property …

AP MacroEconomics Ch. 2

economizing problem the choices necessitated because society’s economic wants for goods and services are unlimited but the resources available to …

Network Economics

Direct vs. Indirect Network Effects D: when the value from product/service A is impacted by how many people use A …

Economics Chapter 11 Vocabulary

saving Absence of spending that frees resources for use in other activities or investments savings the dollars that become available …

Chapter 13 Economics Test

The branch of economics that deals with the economy as a whole, using aggregate measure of output income, prices, and …