SHOULD BE FILLED OUT/DEFINED BY: _____________________________________ Key Terms to Define (and learn!) Scarcity Demand Microeconomics Specialization Macroeconomics Terms of Trade Trade off Recession Opportunity cost Unemployment Comparative Advantage Inflation Absolute Advantage Subsidy Production Possibilities Curve Marginal Analysis Supply Efficiency (Allocative v. Productive)
SHOULD BE FILLED OUT/DEFINED BY: _____________________________________ Key Terms to Define (and learn!) Scarcity Microeconomics Macroeconomics Trade off Opportunity cost Comparative Advantage Absolute Advantage Production Possibilities Curve Supply Demand Specialization Terms of Trade Recession Unemployment Inflation Subsidy Marginal Analysis Efficiency (Allocative v. Productive)
unit_1_learning_target_packet.docx