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# ECONDept. Info Montclair State University (Montclair)'s ECON department has 13 courses in Course Hero with 205 documents, 22 answered questions, and 4 flashcard sets.

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• ##### Professor:
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Cordell, n/a, misra, Richa, AYANWU, Prof Dubey, Zamanian
##### Number of courses:
13

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### All Courses (13)

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• 20 terms

Term:

The production possibilities frontier

Definition:

marks the boundary between attainable combinations of goods and services and unattainable combinations

• chapter 2 micro
• 20 terms
• Vocabulary for chapter 2 micro. Find, create, and access Microeconomics, flashcards with Course Hero.
• 25 terms

Term:

If the price of a hot dog is \$2 and the price of a hamburger is \$4,

Definition:

the relative price of a hot dog is 1/2 of a hamburger

• chapter 3
• 25 terms
• Vocabulary for chapter 3. Find, create, and access Microeconomics, flashcards with Course Hero.
• 30 terms

Term:

Scarcity

Definition:

The condition that arises because wants exceed the ability of resources to satisfy them.

• Microeconomics chapter 1_1
• 30 terms
• Vocabulary for Microeconomics chapter 1_1. Find, create, and access Microeconomics, flashcards with Course Hero.
• 15 terms

Term:

The price elasticity of demand depends on

Definition:

neither the units used to measure price nor the units used to measure quantity.

• chapter 4
• 15 terms
• Vocabulary for chapter 4. Find, create, and access Microeconomics, flashcards with Course Hero.