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    -1, Dr.Stein, ADAIR,JAMESHANSE, MISTYSTONE, MATEER,GEORGEDIR, GOLDEN,LONNIE, LETELLIER, GALENIANOS,EMMANO, PAN, kunrod, staff, Fox, Fake, SENOCAK,TALAT, Mark Owens, jamesTiern, PAPAGEORGIOU,THEO, DanielGoldstein, RIEGER, gordonbloom, KNAPP, JORDAN,JAMESSCHU, Amanda Mandzik, CLAIRE, ICKES, geerling, MCLEOD,MARK, CHUD, GOLDSTEIN,DANIELWILLIAMS,MARLONL, KURRE,JAMESANTHO, KRISHNA,KALA, Henrique de Oliveira, P. Dawson, COLL,KATHERINESA, ROBERTS,BEEYAN, SLAWSKI,ADAMWLAD, Ikes, ROBERTS,MARKJOHN, COULSON, WHITE, ADZIMA,KERRY, ADAMS,MATTHEWFRE, Patrick Guggenberger, CHATURVEDI,RAKESH, Barry, GREEN,EDWARDJAME, SHAPIRO,DAVID, JUN,SUNGJAE, LOUIE,KENNETH, BIERENS,HERMANJ, FIZEL,JOHNL, Naguero, YANG,HOONSIK, DAS,KAUSTAV, WALLACE,NEIL, PINKSE,COENRAADA, BHATTARAI,SAROJ, KRISHNA,VIJAY, GRIECO,PAULLE, MONGE-NARANJO,ALE, VUONG,QUANGH, BAI,XUE, CHATTERJEE,KALYAN, Jordan, Holloran, HERMOND,D, Mateer, MISTYANNSTONE, Clifford, DR.BONNIE-BAFFOE, ECON
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ECON Documents

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ECON Flashcards

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  • 134 terms

    Term:

    Gross Domestic Product (GDP)

    Definition:

    The market value of all final goods and services produced domestically in that year. Equal to the sum of consumer expenditures, investment expenditures, government expenditures, and net exports. (Y=C+I+G+NX) Can also be measured by the total income of the economy.

    • Macro Final
    • 134 terms
    • Vocabulary for Macro Final. Find, create, and access Economics, Macroeconomics, Inflation, federal funds rate, flashcards with Course Hero.
  • 29 terms

    Term:

    Economics

    Definition:

    study of how people allocate their limited resources to satisfy their unlimited wants

    • Econ Exam 1
    • 29 terms
    • Vocabulary for Econ Exam 1. Find, create, and access Economics, Opportunity Cost, Quantity Demand, flashcards with Course Hero.
  • 16 terms

    Term:

    Categories of E

    Definition:

    |e| = 0 (perfectly inelastic) 0 < |e| < 1 (inelastic) |e| = 1 (unitary elastic) 1 < |e|< infinity (elastic) |e| = infinity (perfectly elastic)

    • Econ Exam #2
    • 16 terms
    • Vocabulary for Econ Exam #2. Find, create, and access Economics, Marginal product, TR decreases, TR increases, flashcards with Course Hero.
  • 18 terms

    Term:

    Mark can produce 6 guitars in a month and Katie can produce 5 guitars in a month. Also, Mark can produce 8 banjos in a month and Katie can produce 2 banjos in a month. What is Mark’s opportunity cost of producing 30 guitars?

    Definition:

    40 banjos. It would take Mark 5 months to produce 30 guitars. In that time, Mark could have produced 40 banjos.

    • Quiz 2
    • 18 terms
    • Vocabulary for Quiz 2. Find, create, and access Economics, Microeconomics, flashcards with Course Hero.
  • 10 terms

    Term:

    Economics is primarily about

    Definition:

    choices Economics is primarily concerned with how individuals and societies make decisions.

    • Quiz 1
    • 10 terms
    • Vocabulary for Quiz 1. Find, create, and access Economics, Microeconomics, flashcards with Course Hero.

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