Shared Flashcard Set

Details

Title

Midterm Key Terms

Description

Key Terms of Principles and Policies

Total Cards

Subject

Economics

Level

Undergraduate 1

Created

11/01/2009

Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

Additional Economics Flashcards

Term

Oppotunity Cost

Definition

Value of the next best alternative

Example: Going to college instead of working

Term

Comparative Advantage

Definition

the production of goods with the lowest opportunity cost

Term

Fiscal Policy

Definition

Control over Taxes and Spending

Term

Monetary Policy

Definition

Control over money and interest rates