Matching: Please Match the Term, Thinker, And/or Text with Its

question 12

Multiple Choice

Matching: Please match the term, thinker, and/or text with its complement or correspondent , by placing the appropriate identification letter/number in the space provided. (You may use answers more than once.)
-____ Externalities

• A) Accumulation of advantage
• B) Treadmill of production
• C) Urban growth machine
• D) Invisible hand
• E) Invisible elbow
• F) Treadmill of consumption
• G) World systems theory
• H) Core and periphery
• I) Use values
• J) Hidden subsidies
• K) Crisis of overproduction

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Definitions:

Price System

A mechanism through which prices adjust to balance supply and demand for goods and services in an economy.

Centralized Planning

A system of economy where all choices related to the creation and allocation of goods and services are made by a central governmental body.

Competitive Markets

Markets where many buyers and sellers trade goods and services under conditions of few restrictions, leading to the best prices for both parties.

Opportunity Cost

The advantage lost by selecting one option instead of another.