Micro 1.5-Cost/Benefit Analysis-Video Choice

PICK ONE VIDEO. Watch the video and answer the questions.
ALL VIDEOS ARE NOT NEEDED!!!!

1

_______ economic decisions require the evaluation of costs and benefits.

1

In the realm of cost-benefit analysis, match the following.

Draggable item		Corresponding Item
Total Benefit (utility)		Consumers
Total Revenue		Firms

1

Most things have a cost.

1

Your _______ cost is the opportunity cost of a decision or choice.

1

To ___ (1 word) our _(1 word), we need to make sure that we are weighing the right benefits and the right costs.

1

All choices are hinged on scarcity.

1

A trade-off is the act of __________one benefit in order to __________ another potentially greater benefit.

1

Thinking at the margin implies making ______________  based on small changes in the _______________  of ______________ .

Other Answer Choices:

resources

decisions

allocation

1

In the realm of marginal analysis, we can make economic decisions by using a process of _______ / _______ analysis, where we can compare the marginal cost to the marginal benefit.

1

In the realm of cost-benefit analysis, match the following.

Most things have a cost.

To _______________ (1 word) our _____________(1 word), we need to make sure that we are weighing the right benefits and the right costs.

All choices are hinged on scarcity.

When it comes to making choices, we have to consider scarcity, opportunity cost and cost-benefit analysis.

To ___ (1 word) our _(1 word), we need to make sure that we are weighing the right benefits and the right costs.