Chp 1 zupi preview%2F content terms (econ).docx - Key Content Terms economics:the study of how people choose to use their limited resources to satisfy

Chp 1 zupi preview%2F content terms (econ).docx - Key...

This preview shows page 1 out of 1 page.

Key Content Terms economics: the study of how people choose to use their limited resources to satisfy their unlimited wants economy: a system used to manage limited resources for the production, distribution, and consumption of goods and services positive economics: the branch of economics that uses objective analysis to find out how the economy actually works normative economics: the branch of economics that makes value judgments about the economy; its focus is on which economic policies should be implemented scarcity: the condition that results because people have limited resources but unlimited wants
Image of page 1

You've reached the end of your free preview.

Want to read the whole page?

  • Fall '16
  • Craig Zupi
  • Economics, 2 hours, unlimited wants, Key Content Terms

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes