Key Terms

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

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Economy, p. 2

Economics, p. 2

Market economy, p. 2

Invisible hand, p. 2

Microeconomics, p. 3

Market failure, p. 3

Recession, p. 3

Macroeconomics, p. 4

Economic growth, p. 4

Individual choice, p. 4

Resource, p. 5

Scarce, p. 5

Opportunity cost, p. 6

Trade-off, p. 7

Marginal decisions, p. 8

Marginal analysis, p. 8

Incentive, p. 8

Interaction, p. 10

Trade, p. 11

Gains from trade, p. 11

Specialization, p. 11

Equilibrium, p. 12

Efficient, p. 14

Equity, p. 14