Fill in the blanks with the mumber that correspoods to the correct word or phrase from the word bank below L. Opportunity oost aprdase z 3. margin 4. satisfaction 5. individual 6. Self interest 7. choices 8. small 9. Maximize profits When making a distinction between economists and other social scientists it is noted that economists give special emphasis to the role of in their analysis of choices. Ecooomists assume that individuals make that seek to maximize the Economists argue that individuals pay attention value of some objective, and that they define their objectives in terms of their own changes in the levels of the activities they pursue. Economists asume that people are motivated by their In studying consumers, to the consequences of when making choices, for example owaen of business firms seek to economists ame that individual coasumers make choices aimed at maximizing their level of Economists argue that most choices are made "at the "Microeconomies is the branch of economies that focuses on the choices made by markets decision-making uits in the economy-typically consumers and fimsand the impacts those choices have on Macroeconomics is the branch of econcmies that focuses on the impact of choices on the level of economie activity
Fill in the blanks with the mumber that correspoods to the correct word or phrase from the word bank below L. Opportunity oost aprdase z 3. margin 4. satisfaction 5. individual 6. Self interest 7. choices 8. small 9. Maximize profits When making a distinction between economists and other social scientists it is noted that economists give special emphasis to the role of in their analysis of choices. Ecooomists assume that individuals make that seek to maximize the Economists argue that individuals pay attention value of some objective, and that they define their objectives in terms of their own changes in the levels of the activities they pursue. Economists asume that people are motivated by their In studying consumers, to the consequences of when making choices, for example owaen of business firms seek to economists ame that individual coasumers make choices aimed at maximizing their level of Economists argue that most choices are made "at the "Microeconomies is the branch of economies that focuses on the choices made by markets decision-making uits in the economy-typically consumers and fimsand the impacts those choices have on Macroeconomics is the branch of econcmies that focuses on the impact of choices on the level of economie activity
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Fill in the blanks with the number that corresponds to the correct word or phrase from the word bank below
2. aggregate
1. Opportunity cost
4. satisfaction
3. margin
5. individual
6. Self interest
7. choices
8. small
9. Maximize profits
When making a distinction between economists and other social scientists it is noted that economists give special emphasis to the role of
in their analysis of choices. Economists assume that individuals make
that seek to maximize the
Economists argue that individuals pay attention
value of some objective, and that they define their objectives in terms of their own
to the consequences of
changes in the levels of the activities they pursue. Economists assume that people are motivated by their
when making choices, for example owners of business firms seek to
In studying consumers,
economists assume that individual consumers make choices aimed at maximizing their level of
Economists argue that most choices
are made "at the
"Mieroeconomies is the branch of economies that focuses on the choices made by
decision-making units in the economy-typically consumers and fimsand the impacts those choices have on
markets.
Macroeconomics is the branch of economies that focuses on the impact of choices on the
level of economie activity.
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