Chapter 28 Flashcards by Þórdís Danielsdóttir

Economics needs a press agent. (P-a)

Blaðafulltrúi

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It is a requirement for elementary and secondary students. (R

Skilyrði

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It is a requirement for elementary and secondary students. (E

Grunnskólanemi

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It is a requirement for elementary and secondary students. (S-S

Gagnfræðinemi

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They are still mocked in the media. (Mo

Hæðast að

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One sort of answer touts economics as a body of knowledge. (T

Hampa

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One sort of answer touts economics as a body of knowledge. (B-o-k)

Þekkingarbálkur

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In the introductory college course. (I

Inngangs-

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The national council

Ríkisráð

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Framework for teaching the basic concepts summarizes. (F

Skipulag

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To clinch a spot for economics. ( c

Ná, vinna

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Our answer assumes that it’s much more than bundle of concepts. (A

G.r.f

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Our answer assumes that it’s much more than bundle of concepts. (B

Búnt

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That insights into the seemingly chaotic confusion. (I

Innsýn

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That insights into the seemingly chaotic confusion. (Ch

Í óreiðu

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Of different values, resources, and cultures. (R

Auðlind

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Note the emphasis in human behavior. (E

Áhersla

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Almost every aspect of human behavior can be analyzed using an economic approach. (As

Hlið

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Almost every aspect of human behavior can be analyzed using an economic approach. (H-b

Mannlegt atferli

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Almost every aspect of human behavior can be analyzed using an economic approach. (An

Greina

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Almost every aspect of human behavior can be analyzed using an economic approach. (Ap

Nálgast

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It is this distinctive approach. (D

Auðkennandi

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It doesn’t furnish a body of settled conclusions immediately applicable to policy. (F

Útvega

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It doesn’t furnish a body of settled conclusions immediately applicable to policy. (A

Nothæfur

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It doesn't furnish a body of settled conclusions immediately applicable to policy. (P

Stefna

Its a method rather than a doctrine, an apparatus of the mind. (D

Kenning

Its a method rather than a doctrine, an apparatus of the mind. (A

Skipulag

Which help its possessor to draw. (P

Notandi

Effort

Fyrirhöfn

Opportunity cost is the value of the next best alternative. (O-c)

Tækifæriskostnaður

Opportunity cost is the value of the next best alternative. (V

Gildi

Opportunity cost is the value of the next best alternative. (A

Val

The economics perspective .. (P

Yfirsýn. Sjónarhorn

Poetical benefits are more fun. (P-b

Ávinningur

It has been spoiled by assertions of the. (A

Framsetning

With more trade-offs than solutions. (T-o

Málamiðlun

They look for the most advantageous combination of costs and benefits. (A

Hagkvæmur

They look for the most advantageous combination of costs and benefits. (Com

Samsetning

This behavior is self-interested, not selfish. (S-I

Byggt á eigin hagsmunum

Individuals are motivated solely by selfishness or.. (So

Eingöngu

Not an assumption about particular motivations. (A

Ályktun

By much richer set of values and preferences. (P

Forgangsatriði

I have tried to pry them away. (P-a

Losa frá

That individuals maximize welfare as they conceive it. (M

Hámarka

That individuals maximize welfare as they conceive it. (W

Velferð

That individuals maximize welfare as they conceive it. (C

Fá hugmynd

Whether they be selfish, altruistic, loyal, spiteful or masochistic. (A

Óeigingjarn

Whether they be selfish, altruistic, loyal, spiteful or masochistic. (S

Illgjarn

Whether they be selfish, altruistic, loyal, spiteful or masochistic. (M

Haldinn sjálfshvíslarhvöt

It is also assumed to be consistent over time. (C

Samkvæmur sjálfum sér

All social phenomena emerge from the choices,. (P

Fyrirbæri

All social phenomena emerge from the choices,. (E

Koma fram

Incentives matter. I

Hvatning

Supply and demand.

Framboð og eftirspurn

Profits and business behavior. (P

Hagnaður

Summarize

Draga saman

The rest is commentary. (C

Skýring

People respond to incentives' sounds innocuous enough. (inn

Skaðlaus

Everyone will admit its validity as a general principle. (V

Lögmæti

What distinguishes the economist is his insistence on taking. (D

Greina sundur

What distinguishes the economist is his insistence on taking. (I

Ákveðni

Economic activity doesn't occur in a vacuum. (V

Í tóma rúmi

Cooperation among people is governed. (C

Samvinna

Market economics depend upon private property ownership. (M-e

Markaðsbúskapur

Market economics depend upon private property ownership. (-Pp

Einkaeign

It creates a whole structure of incentives. (S

Kerfi

Governance

Stjórn

People gain from voluntary trade. (V

Sjálfsviljugur

Trade

Verslun

The trade is made when both parties consider... (P

Málsaðila

Trade policy is hotly debated, but the logic of individual trades rarely is disputed. (H

Harðlega

Trade policy is hotly debated, but the logic of individual trades rarely is disputed. (De

Umræða

Trade policy is hotly debated, but the logic of individual trades rarely is disputed. (Di

Umdeilt

His labor for a vast array of goods and services. (L

Áreynsla

His labor for a vast array of goods and services. (V

Gríðastór

His labor for a vast array of goods and services. (A

Fylking

His labor for a vast array of goods and services. (G-a-S)

Vörur og þjónusta

Self-sufficiency is the road to poverty. ( s-s

Sjálfsþurftarbúskapur

Costs of production and contribute to the price. (C

Stuðla að

Through the interactions of Byers and sellers. (I

Samskipti

Secondary-effects

Aukaverkun

The immediate and visible effects, (I

Aðkallandi

Effects that are indirectly related to the initial policy. (Ind

Óbeint

Effects that are indirectly related to the initial policy. (Ini

Byrjunar

Passage of time

Með tíð og tíma

Ecological system

Vistkerfi

One action may create many unintended consequences. (U

Óviljandi

Rent controls make apartments more affordable to some consumers, but those same controls make it profitable to build and maintain rental housing. (R-c

Leigustýring

Rent controls make apartments more affordable to some consumers, but those same controls make it profitable to build and maintain rental housing. (Af

Viðráðanlegt

Rent controls make apartments more affordable to some consumers, but those same controls make it profitable to build and maintain rental housing. (Co

Neytendur

Rent controls make apartments more affordable to some consumers, but those same controls make it profitable to build and maintain rental housing. (Pr

Arðbær

Rent controls make apartments more affordable to some consumers, but those same controls make it profitable to build and maintain rental housing. (M

Viðhalda

The secondary effects is a shortage of apartments. (Sh

Skortur

Higher taxes provide more revenue for government, (r

Tekjur

Invest

Fjárfesta

policy maker

Stefnusmiður

Or is this Econ stuff just too abstract to be practical? (A

Óhlutbundinn

Or is this Econ stuff just too abstract to be practical? (P

Hagnýtur

Approach

Nálgast

Economics needs a press agent. (E

Hagfræði