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