A.

Economics is the social science that describes the factors that

determine the production, distribution and consumption of goods and
services. The term economics comes from the Ancient Greek
from (oikos, "house") and (nomos, "custom" or
"law"), hence "rules of the house (hold for good management)".
B. Opportunity cost- In microeconomic theory, the opportunity cost of
a choice is the value of the best alternative forgone where, given
limited resources, a choice needs to be made between
several mutually exclusive alternatives.
C. A trade-off (or tradeoff) is a situation that involves losing one quality
or aspect of something in return for gaining another quality or aspect.
D. In economics, marginal thinking requires decision-makers to
evaluate whether the benefit of one more unit of something is greater
than its cost. This can be quite challenging, but understanding how to
analyze decisions at the margin is essential to becoming a good
economist.
E. An incentive is something that motivates an individual to perform an
action. The study of incentive structures is central to the study of all
economic activities (both in terms of individual decision-making and in
terms of co-operation and competitionwithin a larger institutional
structure).
2.
3. Ang pag-aaral ng ekonomiks ay nakatutulong sa bawat isa upang
maunawaan at malaman ang tamang paraan kung paano magagamit
ang mga natatakdaang pinagkukunang yaman. Sa pamamagitan ng
pag-aaral nito, masusuri ng tao ang mga bagay na may kaugnayan sa
kakapusan. Ang pagpili at paggawa ng tamang pasya sa pagtugon sa
mga suliranin ng kakapusan ang pinakamahalagang bahagi ng pagaaral ng ekonomiks.
Kailangan ang pag-aaral ng ekonomiks dahil naimumulat nito ang tao sa
pagkakaugnay-ugnay ng mga usaping panlilpunan na makatutulong
upang magkaroon ng mapanuring pag-iisip at pag-unawa sa mga
bagay-bagay na nagaganap sa bansa.