Econ Padlet by rachel e https://padlet.com/remustang25/zkz7fz2vfdcv terms to know for economics en-us 2019-08-21 18:13:45 UTC 2025-09-26 11:40:34 UTC hello@padlet.com https://padlet.pics/1/image?t=g_auto&url=https%3A%2F%2Fpadlet.net%2Ficons%2Fpng%2F1f920.png Microeconomics remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378000468 the study of economics on a smaller scale 
ex: target or walmart ]]> 2019-08-28 17:51:02 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378000468 Macroeconomics remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378000547 the study of large scale economics 
ex: tariffs ]]> 2019-08-28 17:51:16 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378000547 Economics remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002397 studying how people decide and why they decide certain alternatives to others 
ex: picking a mechanical pencil over a wooden pencil ]]> 2019-08-28 17:54:51 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002397 opportunity cost remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002447  having two or more choices with separate outcomes that have a potential gain
ex: skipping class to go to Chick-Fil-A]]> 2019-08-28 17:54:57 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002447 scarcity remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002980 a finite amount of something
ex: wheat produced in Kansas ]]> 2019-08-28 17:55:56 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378002980 Incentives remustang25 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378003658 incentives are something that stimulates someone’s enthusiasm to do something productive 
ex: getting money for doing chores ]]> 2019-08-28 17:57:09 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/378003658 Cost/ Benefit analysis nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380726464  a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings
ex: money and how much its making is used most of the time to determine this ]]> 2019-09-06 02:19:00 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380726464 marginal benefit nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727010 benefit or satisfaction of a consumer product
ex: a hot dog eating contest ]]> 2019-09-06 02:21:39 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727010 marginal cost nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727467 the cost added by producing one more unit of a product 
ex: production of one pair of shoes is $30]]> 2019-09-06 02:23:31 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727467 demand nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727712 quantity of good that consumers are willing to buy
ex: demand for nike shoes is high ]]> 2019-09-06 02:24:49 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380727712 supply nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380728382 a stock of a resource from which a person or place can be provided with the necessary amount of it 
ex: supply of wheat]]> 2019-09-06 02:27:17 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380728382 substitute good nada_raef2003 https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380729703 A substitute good is a good that can be used in place of another
ex: pepsi and coca cola]]> 2019-09-06 02:33:36 UTC https://padlet.com/remustang25/zkz7fz2vfdcv/wish/380729703