Micro 1.6-Marginal Analysis and Consumer Choice

Economists use ______________________________ to make predictions about the real world.

A basic ______________________________ assumption that economists make is that people make choices based on self-interest.

An entrepreneur is part of the ______________________________ resources category of productive resources.

Your mechanic provides a(n) ______________________________ when he or she repairs your car.

Corn is a ______________________________ because it is tangible.

The term “______________________________” in economics means incremental, additional, extra, or one more.

Economists use ______________________________ to make predictions about the real world.

In the economy, goods and services flow from businesses to product markets, and ______________________________ flows from product markets to businesses.

______________________________ include all human creations used to produce goods and services.

______________________________ equals the revenue from sales minus the cost of production.