Discussion Forum 1.1 -

vocabulary definition

vocabulary definition

by Zhuoyan (Zoey) Xie -
Number of replies: 0

  1. Effective (use of resources) : Doing something in a way that gives the best result with the resources you have.

  2. Priority : Something that is more important and should be done first.

  3. Consequence : The result or effect of an action or decision.

  4. Efficient (use of resources) :Using resources in a way that wastes as little as possible while getting the job done.

  5. Economize :To save resources, time, or money; use less.

  6. Economics :The study of how people make choices about using limited resources.

  7. Social science : The study of people, society, and how people interact.

  8. Stakeholder : A person or group that has an interest in a decision, project, or organization.

  9. Scientific method : A way of learning or discovering by making observations, asking questions, forming hypotheses, and testing them.

  10. Economy :The system of producing, distributing, and using goods and services in a society.

  11. Analytical (or positive) economics :Looking at facts and data to understand how the economy actually works.

  12. Normative (or policy) economics : Making recommendations about what the economy should do based on values or opinions.

  13. Utility :The satisfaction or happiness you get from consuming a product or service.

  14. Util : A unit used to measure utility .


201 words