ECONOMICS Flashcards
1
Q
study of what constitutes ration human behavior in the fulfilment of needs and wants
A
economics
2
Q
what word did economics come from?
A
oikanomia
3
Q
oikanomia means
A
household management
4
Q
oikanomia is from
A
oikos and nomos
5
Q
what are the three important functions of economics
A
— production
— consumption
— growth
6
Q
until when was economics not considered a separate discipline?
A
19th century
7
Q
who studied wealth accumulation and inquiries on whether property should be in the hands of public or private institutions
A
greeks
8
Q
when did scholars argue that it was a moral obligation of business to sell goods at a certain price
A
middle ages 5th to 15th century
