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Academic Decathlon - Economics
About this Free Flashcard Deck
Last update by
DemiDec
on 08/01/2010
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Academic Decathlon - Economics
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This Deck Belongs To
Academic Decathlon 2009 Flashcards
Flashcard Deck Tags
Academic Decathlon
,
economics
,
acadec
,
demidec
,
Academic Decathlon - Economics
Flashcard Review
1
What is scarcity?
2
What is economics?
3
When does optimization occur?
4
What is opportunity cost?
5
What is an implicit cost?
6
What is an explicit cost?
7
What costs are included in the economic ...
8
What is the fundamental economic ...
9
What term refers to the rivalry between ...
10
What factor of production would an ...
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Free Flashcard From Academic Decathlon - Economics
Question:
What is scarcity?
Answer:
the condition that arises from unlimited wants exceeding limited resources