Microeconomics Test 1 Spring 25
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Last updated 6:54 PM on 3/11/25
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19 Terms
1
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Scarcity
2
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Economics
3
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Opportunity cost
4
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Marginal Decision Making
5
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Circular Flow Model
6
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Production Possibilities Frontier (PPF)
7
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Microeconomics
8
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Macroeconomics
9
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Positive economics
10
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Negative Economics
11
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Demand
12
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Factors that Determine Demand
13
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Change in quantity demanded vs change in demand
14
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Supply
15
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Factors that determine supply
16
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Change in quantity supplied vs change in supply
17
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Equilibrium
18
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Shortage
19
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Surplus
Note 
Flashcards (125)