Improve your search results. Select your educational institution and subject so that we can show you the most relevant documents and help you in the best way possible.
Ok, I understand!
Your school or university
Improve your search results. Select your educational institution and subject so that we can show you the most relevant documents and help you in the best way possible.
Here are the best resources to pass ECON SUPPLY & DEMAND (ECON). Find ECON SUPPLY & DEMAND (ECON) study guides, notes, assignments, and much more.
All
1 results
Sort by
UNIVERSITY OF ARIZONA ECONOMICS SUPPLY & DEMAND FINAL EXAM STUDY GUIDE 2020 VERIFIED WITH 100% CORRECT ANSWERS.
Study guide • 11
pages
• 2020
1.	Define economics. 


2.	Explain how scarcity relates to economics. 
Limited resources to meet unlimited needs and wants. This situation requires people to make 
decisions about how to allocate resources efficiently in order to satisfy needs and wants. 

3.	Differentiate between opportunity costs and trade offs. 
Opportunity Costs: The second best alternative to a choice that is made. 
Trade Offs: Giving up some of one thing in order to gain more of something else.

 4.	Define factors of produ...
UNIVERSITY OF ARIZONA ECONOMICS SUPPLY & DEMAND FINAL EXAM STUDY GUIDE 2020 VERIFIED WITH 100% CORRECT ANSWERS.
Last document update:
ago
1.	Define economics. 


2.	Explain how scarcity relates to economics. 
Limited resources to meet unlimited needs and wants. This situation requires people to make 
decisions about how to allocate resources efficiently in order to satisfy needs and wants. 

3.	Differentiate between opportunity costs and trade offs. 
Opportunity Costs: The second best alternative to a choice that is made. 
Trade Offs: Giving up some of one thing in order to gain more of something else.

 4.	Define factors of produ...
Do you wonder why so many students wear nice clothes, have money to spare and enjoy tons of free time? Well, they sell on Stuvia! Imagine your study notes being downloaded a dozen times for $15 each. Every. Single. Day.
Fear of missing out? Then don’t!
Do you wonder why so many students wear nice clothes, have money to spare and enjoy tons of free time? Well, they sell on Stuvia! Imagine your study notes being downloaded a dozen times for $15 each. Every. Single. Day.
Discover all about earning on Stuvia