CHAPTER REVIEW

KEY CONCEPTS

Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.

Question

the great economic problem
speculation
futures
prediction market
A speculative market designed so that prices can be interpreted as probabilities and used to make predictions.
The attempt to profit from future price changes.
Standardized contracts to buy or sell specified quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.
Problem of how to arrange our limited resources to satisfy as many of our wants as possible.
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