Chapter 1 Flashcards by Marian Mendez | Brainscape

Q

Rewards and penalties that motivate behavior

A

Incentives

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

A resource is ______ when there isn’t enough to satisfy our wants.

A

Scarcity

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

An increase in the general level of prices

A

Inflation

How well did you know this?

1

Not at all

2

3

4

5

Perfectly