Relier Pairs FundamentalsVersion en ligne Match term with definition par Annette King 1 scarcity 2 positive incentive 3 factors of production (productive resources) 4 marginal benefit 5 human capital 6 economics 7 negative incentive 8 labor 9 entrepreneurship 10 capital 11 rational choice 12 opportunity cost 13 marginal cost 14 incentive 15 Land penalties that are intended to discourage behaviors next best alternative; what is given up when an economic choice is made tool, machines, factories, roads, etc. used in the production of goods and services decisions based on cost/benefit analysis MB > or = MC rewards that encourage behaviors skills, knowledge, and experience a person has to contribute to the production process additional satisfaction gained from consuming one additional unit of a good or service risk-taking of organizing the other factors of production to earn a profit additional cost of consuming one more unit of a good or service inputs used to make goods and services motivates individuals, businesses, and governments to undertake an action or to avoid an action. the study of how we allocate limited resources to satisfy unlimited wants and needs human mental and physical activity used in production of goods and services natural resources used in production basic economic problem of limited resources and unlimited wants
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