key concepts unit 5 195-247. start of unit 5 195. scarcity 196. choice 197. cost and benefits
TRANSCRIPT
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Key Concepts Unit 5195-247
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Start of UNIT 5195. Scarcity196. Choice197. Cost and benefits
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198. Opportunity cost199. Marginal (added) cost200. trade- offs
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201. Natural resource202. Capital resource203. Human resource
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204. Producers205. Consumers206. buyers
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207. Sellers208. Production209. distribution
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210. Consumption211. Channels of distribution212. marketing
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213. Capitalism (free enterprise)214. Traditional economic system215. Command economic system
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216. Mixed economic system217. Pure competition218. oligopoly
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219. Monopolistic competition220. Monopoly221. Supply curve
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222. Demand curve223. Equilibrium price224. Elastic supply/ demand
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225. Inelastic supply/demand226. Substitutions227. compliments
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228. Shortage229. Surplus230. Price of the product
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231. Price of inputs232. Competition233. Price of related products
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234. Technological change235. Consumer tastes/preferences236. Factors of production
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237. Price238. Relative price239. Capital investment
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240. Supply and demand241. Entrepreneurship242. Circular flow of goods
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243. Inflation244. Deflation245. Business cycle
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END OF UNIT 5246. Consumer price index247. Rate of inflation
Finish unit 5!
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