6 Questions
What does the Greek root 'nemein' in the word 'economics' stand for?
together
What is the relationship depicted by the Phillips curve?
Inflation rate and unemployment rate
What is the term for the ability of an individual to own and exercise control over scarce resources?
Property rights
What is the definition of a incentive?
Something that induces a person to act
What is the cost of giving up the next best alternative when making a choice?
Opportunity costs
What is the ability of a single economic actor to influence market prices?
Market power
Test your knowledge of Conservation Economics with this quiz, covering topics such as the roots of economics, Phillips curve, and resource rights. Evaluate your understanding of these fundamental concepts and identify areas for improvement.
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