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Carefully Define the Following Terms, and Explain Their Importance in Economics

question 27

Essay

Carefully define the following terms, and explain their importance in economics.
a. Opportunity cost
b. Abstraction
c. Theory
d. Model
e. Marginal analysis


Definitions:

Brachial Artery

The major blood vessel of the (upper) arm that continues from the axillary artery.

Temporal

Related to time or the timing of something, or pertaining to the temples of the skull.

Radial

Pertaining to the radius bone or located near it; also refers to structures arranged like rays.

Angina Pectoris

Chest pain or discomfort that occurs when an area of your heart muscle doesn't get enough oxygen-rich blood, often a symptom of coronary artery disease.

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