APPLIED ECONOMICS

market

is an interaction between buyers and sellers of trading or exchange

good market

most common type of market because it is where we use buy consume goods

economics

social science that involves the use of scarce resources to satisfy unlimited wants

economic cost

also known as the factor of production. sources used to produce goods and services

scarcity

condition where there are insufficient resources to satisfy all the needs and wants of a population

macro economics

focusing to the goods and services

demand

the willingness of a consumer to buy commodity at given price

opportunity cost

value of the best forezone of an alternative

financial market

which includes the stock market when securities of cooperatives are traded

law of demand

which means all other related variables except those that are being studied at the moment and are held constant

labor market

workers offer services and look for jobs