Chapter 2 Economics
Economics
The study of how resources are converted into goods and services and how goods and services are used.
Supply
The amount of product offered for sale at a given price.
Cost-benifit analysis
The method decision makers use to compare what they will sacrifice and gain for a specific action.
Demand
The amount of a product people will buy at a given price.

non-market value

values not usually included in the price of goods or services.

 

ecolabeling
tells consumers which brands are made with processes that do not harm the enviornment
ecological economics
a field of economics that links nature to economics
evironmental economics
agrees that economies are unsustainable if resources use not made more efficient.
Leave a Reply
Your email address will not be published.
*
*

BACK TO TOP