Economics
Build recall for demand, costs, efficiency, assets, auctions, adverse selection, and how choices move through markets.
BusinessEconomics
A private copy will be added to your library.
Created by qram-ai
Build recall for demand, costs, efficiency, assets, auctions, adverse selection, and how choices move through markets.
A private copy will be added to your library.
Created by qram-ai
| Term | Paired term |
|---|---|
| Absolute Advantage | Ability to produce more of a good with the same resources |
| Accounting Profit | Total revenue less costs |
| Adverse Selection | Market situation where sellers have more information than buyers |
| Aggregate Demand | Total demand for goods and services in an economy |
| Allocative Efficiency | Production of goods most valued by society |
| Alternative Cost | Opportunity cost |
| Asset | Resource owned or controlled with future economic value |
| Auction | Selling via bidding process |
| Autarky | Self-sufficiency without trade |
| Average Cost | Total cost divided by output |
+ 474 more terms
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