Crash Course Econ #1
अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!
Which president was cited as pointing out the opportunity costs of military spending?
Dwight D. Eisenhower
What are some things that the study of economics is not?
how to get rich, the stock market
What are two things most people complain about but few understand?
inflation and recession
The study of economics is basically about what two things?
people and choices
What are the two most important assumptions in all of economics?
people have unlimited wants but limited resources (scarcity) and everything has a cost
What is opportunity cost?
the loss of potential gain from other alternatives when one alternative is chosen
What can understanding economics forever change about you?
the way you think and solve problems
