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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
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economics
,
acadec
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demidec
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Academic Decathlon - Economics
Flashcard Review
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 ...
11
What factor of production do factory ...
12
True/False: The terms socialism and ...
13
What are the four factors of production?
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Free Flashcard From Academic Decathlon - Economics
Question:
What is opportunity cost?
Answer:
the value of the next-best alternative (what you give up when you make a decision)