Econ Unit 1 Vocab Flashcards by Christina Lang | Brainscape

Q

Economics

A

limited resources for human wants.

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Q

Need

A

Must have to survive
(food, shelter, clothes)

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Q

Scarcity

A

Limited resources

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Q

Trade-Off

A

Something you give up when making a choice.

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Q

Small Units

A

Microeconomics

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Q

U.S. central banking

A

Federal Reserve

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