Shared Flashcard Set

Details

Title

USC Econ 221 Exam I

Description

Review for Pultik's Econ 221

Total Cards

Subject

Economics

Level

Undergraduate 2

Created

09/17/2012

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Additional Economics Flashcards

Term

Scarcity

Definition

the limited nature of society’s resources

Term

Economics

Definition

the study of how society manages its scarce resources

Term

Efficiency

Definition

the property of society getting the most it can from its scarce resources

Term

Equality

Definition

the property of distributing economic prosperity uniformly among the members society