https://padlet.com/145003591/q8yyurhn9drh Amber Jaeger, Sammy Zylak, Jesus Bernabe, Alejandro Mendoza en-us 2017-08-18 14:46:36 UTC 2017-08-24 15:24:26 UTC hello@padlet.com 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/181632798 Focuses on facts and cause-and-effect relationships. It includes description, theory development, and theory testing.]]> 2017-08-18 14:52:54 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181632798 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/181633445 To obtain more of one thing ,so society forgoes the opportunity of the next big thing.
Example: People sacrifice other resources into making.

]]> 2017-08-18 14:55:30 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181633445 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/181633481 Microeconomics is one level of principles and models of decision made by an individual. (ex. customers, workers, household).]]> 2017-08-18 14:55:41 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181633481 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/181633810 Macroeconomics views the economy as a whole. (Ex. government, business sectors) Would lump together millions of consumers. ]]> 2017-08-18 14:56:43 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181633810 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/181634194 Value judgments about what the economy should be like. Normative Economics focus on subjective feelings about "what ought to be".]]> 2017-08-18 14:58:18 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181634194 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/181635058 Economists classify economic resources into four general categories: Land, Labor, Capitol, and Entrepreneurial Ability.]]> 2017-08-18 15:01:49 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181635058 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/181635477 Includes all natural resources (forests, mineral and oil deposits, water resources, wind power, sunlight, and arable land).]]> 2017-08-18 15:03:33 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181635477 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/181635579 Scarce resources are economic resources. Having limited resources that is given by nature, human, and manufactured.]]> 2017-08-18 15:04:02 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181635579 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/181635718 The physical actions and mental activities that people contribute to the production of goods and services.]]> 2017-08-18 15:04:41 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181635718 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/181635884 A curve that shows the various combinations of two produces that can be produced while having the same number of set resources.]]> 2017-08-18 15:05:25 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/181635884 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/182093253 A larger total output.]]> 2017-08-22 14:33:19 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182093253 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182093358 Compares the marginal benefits and the marginal costs. When deciding to pick between two things, you consider the result and pick the one with the best result (marginal benefit) and consider what you loose (marginal cost).]]> 2017-08-22 14:33:41 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182093358 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/182094240 Includes all of the manufactured aids used in producing consumer goods and services (tools). Examples of capital include all factory, storage, and transportation facilities,as well as tools and machinery. ]]> 2017-08-22 14:36:30 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182094240 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/182094500 Full employment: economy is employing all of its available resources
Fixed resources: Products are improved dealing with the quality and the production
Fixed technology: Producing the same technology at a constant rate 
Two goods: Examples: pizza which are CONSUMER GOODS (Products that satisfy our wants) , Robots are CAPITAL GOODS (satisfy our wants by making  more efficient production of consumer goods).]]> 2017-08-22 14:37:27 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182094500 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/182095232 The special human resource that preforms functions such as: making strategic business decisions, innovating, bearing risks, and combining the resources of land, labor, and capital to produce a good or service.]]> 2017-08-22 14:40:04 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182095232 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/182095604 When technology advances, goods and the quality improves.

]]> 2017-08-22 14:41:22 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182095604 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182096245 When the production of one good increases so does the opportunity costs of another unit. ]]> 2017-08-22 14:43:10 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182096245 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/182096657 The line that is the curve consist of 2 products, If there is a point outside the curve then it is impossible to make simply because there is not enough resources or labor to produce it. The line is the maximum ]]> 2017-08-22 14:44:20 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182096657 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182097201 When the government controls what goes into and out of the economy. There is very little private ownership. Also known as Socialism or communism. ]]> 2017-08-22 14:46:12 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182097201 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/182592755 Allows owners to waste there money as they desire. Also, allows workers to work where they want if they are the right candidate for the job.]]> 2017-08-24 15:08:48 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182592755 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/182592876 Resources being used of an individual region or nation to produce one or few goods.]]> 2017-08-24 15:09:08 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182592876 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182594065 The motivating force of the various economic units as they express their free choices. They try to achieve economic goals. Profits are maximized to reach the highest goal.]]> 2017-08-24 15:12:14 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182594065 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/182594799 Pleasure, satisfaction.]]> 2017-08-24 15:14:17 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182594799 444003035 https://padlet.com/145003591/q8yyurhn9drh/wish/182595183 It is mainly dealing with cause and effect relationships. ]]> 2017-08-24 15:15:31 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182595183 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/182595456 Economic way of thinking.]]> 2017-08-24 15:16:22 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182595456 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182595963 Two or more buyers and two or more sellers acting individually to out buy or sell  a good. People are allowed to enter and leave the market at any time they wish. ]]> 2017-08-24 15:17:48 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182595963 145003591 https://padlet.com/145003591/q8yyurhn9drh/wish/182596766 The assumption that factors other than those being considered do not change. They assume that all variables except those under immediate consideration are held constant for particular analysis. ]]> 2017-08-24 15:19:55 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182596766 141000113 https://padlet.com/145003591/q8yyurhn9drh/wish/182596770 Freedom to negotiate binding legal contracts individually and businesses.]]> 2017-08-24 15:19:56 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182596770 145004223 https://padlet.com/145003591/q8yyurhn9drh/wish/182597695 When specific jobs are gie]]> 2017-08-24 15:22:22 UTC https://padlet.com/145003591/q8yyurhn9drh/wish/182597695