Memory Match in Applied Economics
You have a limited time to match the term to their definitions!
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Topics of this game:
- THIS IS THE AUTHORITATIVE SYSTEM
- IS A CONDITION WHERE THERE ARE INSUFFICIENT RESOURCES
- PHYSICAL AND HUMAN EFFORT EXERTED PRODUCTION
- MAN-MADE RESOURCES USED IN THE PRODUCTION OF GOODS & SERVICES WHICH INCLUDE MACHINERIES & EQUIPMENT
- SOIL AND NATURAL RESOURCES THAT ARE FOUND IN NATURE AND ARE NOT MAN MADE
- THIS IS THE MOST DEMOCRATIC FORM OF ECONOMIC SYSTEM
- DECISIONS ARE BASED ON TRADITIONS AND PRACTICES UPHELD OVER THE YEARS AND PASSED ON FROM GENERATION
- CONCERNED WITH THE BEHAVIOR OF INDIVIDUAL ENTITIES SUCH AS THE CONSUMER, THE PRODUCERS AND THEIR CO
- IS THE MEANS THROUGH WHICH SOCIETY DETERMINES THE ANSWERS TO THE BASIC ECONOMIC PROBLEMS MENTIONED
- IS A DIVISION OF ECONOMICS THAT CONCERNED WITH THE OVERALL PERFORMANCE OF THE ENTIRE ECONOMY
- AS FACTORS OF PRODUCTION, ARE THE RESOURCES USED TO PRODUCE GOODS AND SERVICES
- WHEN THE SUPPLY IS LIMITED ONLY
- WHEN A GOOD IS SCARCE COMPARED TO ITS DEMAND
- A SYSTEM THAT RELIES ON CUSTOMS, TRADITIONS AND TIME HONORED BELIEFS
- THESE RESOURCES ARE, BY NATURE, LIMITED USED IN PROVIDING GOODS OR SERVICES
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