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Match each economics term

Exercise and reference answers

Matching pairs
  1. Left
    Scarcity
    Right
    Limited means, unlimited ends
  2. Left
    Sunk cost
    Right
    Spent already, cannot be recovered
  3. Left
    Marginal analysis
    Right
    Weighing a little more or less
  4. Left
    Budget constraint
    Right
    Combinations that use up the money
  5. Left
    The PPF
    Right
    What a whole society can produce
Instructions
Tap a term on the left, then tap its meaning on the right.

Explanation

_Source: OpenStax Principles of Microeconomics for AP(R) Courses 2e (CC BY 4.0), Ch 2 'Choice in a World of Scarcity', sections 2.1-2.3_
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