{"id":344,"date":"2018-02-08T11:28:54","date_gmt":"2018-02-08T16:28:54","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/biggars\/?p=344"},"modified":"2018-02-12T13:11:24","modified_gmt":"2018-02-12T18:11:24","slug":"econ-1-3-vocab","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/biggars\/2018\/02\/08\/econ-1-3-vocab\/","title":{"rendered":"Econ 1.3 Vocab"},"content":{"rendered":"

These will be the final words this chapter.\u00a0 Prepare for a test at the end of the week! Good luck! Practice, say them, and review them.<\/p>\n

    \n
  1. Economists \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0648\u0646: person that studies economic systems<\/li>\n
  2. choices \u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a: options, alternatives<\/li>\n
  3. trade-off \u0627\u0644\u0645\u0642\u0627\u064a\u0636\u0629: a different option for something<\/li>\n
  4. expertise \u0627\u0644\u062e\u0628\u0631\u0629: something you’re great at<\/li>\n
  5. opportunity cost \u062a\u0643\u0644\u0641\u0629 \u0627\u0644\u0641\u0631\u0635\u0629 \u0627\u0644\u0628\u062f\u064a\u0644\u0629: the cost of the 2nd best alternative use of money, time, or resources.<\/li>\n<\/ol>\n
      \n
    1. maximum \u0627\u0644\u062d\u062f \u0627\u0644\u0623\u0642\u0635\u0649: most<\/li>\n
    2. Production Possibilities Frontier (PPF): a graph that represents the maximum amount of goods and\/or services an economy can produce when using all its good resources.<\/li>\n<\/ol>\n
        \n
      1. output \u0627\u0644\u0646\u0627\u062a\u062c: products that are made<\/li>\n
      2. economic model \u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a: an easier way to read using graphs, charts, or drawings.<\/li>\n<\/ol>\n
          \n
        1. constant \u062b\u0627\u0628\u062a: \u062f\u0627\u0626\u0645\u0627: always<\/li>\n
        2. solution \u0627\u0644\u062d\u0644: \u0627\u0644\u0625\u062c\u0627\u0628\u0629 \u0639\u0644\u0649 \u0645\u0634\u0643\u0644\u0629: answer to a problem<\/li>\n
        3. free enterprise economy \u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u0624\u0633\u0633\u0627\u062a \u0627\u0644\u062d\u0631\u0629: economic system where private businesses have freedom to work for profit with limited government interference (like U.S.A.)<\/li>\n<\/ol>\n
            \n
          1. profit \u0627\u0644\u0631\u0628\u062d: the extra money that you make<\/li>\n
          2. standard of living \u0645\u0633\u062a\u0648\u0649 \u0627\u0644\u0645\u0639\u064a\u0634\u0629: quality of life<\/li>\n<\/ol>\n

             <\/p>\n","protected":false},"excerpt":{"rendered":"

            These will be the final words this chapter.\u00a0 Prepare for a test at the end of the week! Good luck! Practice, say them, and review them. Economists \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0648\u0646: person that studies economic systems choices \u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a: options, alternatives trade-off \u0627\u0644\u0645\u0642\u0627\u064a\u0636\u0629: a different option for something expertise \u0627\u0644\u062e\u0628\u0631\u0629: something you’re great at opportunity cost \u062a\u0643\u0644\u0641\u0629 \u0627\u0644\u0641\u0631\u0635\u0629 \u0627\u0644\u0628\u062f\u064a\u0644\u0629: […]<\/p>\n","protected":false},"author":2107,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-344","post","type-post","status-publish","format-standard","hentry","category-econ"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/users\/2107"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/comments?post=344"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/344\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/media?parent=344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/categories?post=344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/tags?post=344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}