Consumer - A person or organisation that directly uses a good or service. , Good - A tangible product i.e. a product that can be seen or touched. , Government - A political authority that decides how a country is run and manages its operation. , Producer - A person, company or country that makes, grows or supplies goods and or/services. , Service - An intangible product i.e. a product that cannot be seen or touched. , Production - The total output of goods and services produced by a firm or industry in a time period. , Labour - The factor of production that is concerned with the workforce of an economy in terms of both the physical and mental effort involved in production. , Land - The factor of production that is concerned with the natural resources of an economy, such as farmland and mineral deposits. , Capital - The factor of production that relates to the human-made aids to production. , Enterprise - The factor of production that takes a risk in organising the other factors of production. , Entrepreneur - The individual who takes the risk. , Opportunity Cost - The loss of other alternatives when one alternative is chosen., Scarcity - The demand for a good or service is greater than the availability of the good or service., Limited Resources - The quantities of available labour, capital, land and entrepreneurship used for the production of goods and services are finite., Needs - The things human beings require for survival., Wants - Something that is desired. Luxury items. Not required for survival, Free Goods - A good with zero opportunity costs., Shortages - When the quantity demanded exceeds the quantity supplied., Resource Mobility - The ease of movement of resources between locations and/or between productive activities., Substitutability - The ability to replace one product, technology or service which is insufficient, to another., Mixed Economy - Part of the economy is left to the free market, and part of it is managed by the government., Planned Economy - A government body makes economic decisions regarding the production and distribution of goods., Free Market Economy - No government intervention or regulation. In a purely free market, buyers and sellers arrive at prices based only on supply and demand.,
0%
1. The Economic Problem - Higher Economics
Dela
av
9071886
Secondary
Economics
Redigera innehåll
Bädda in
Mer
Rankningslista
Visa mer
Visa mindre
Denna topplista är för närvarande privat. Klicka på
dela
för att göra den offentlig.
Denna topplista har inaktiverats av resursägaren.
Denna topplista är inaktiverad eftersom att alternativen är olika för resursägarna.
Återgå alternativ
Korsord
är en öppen mall. Det genererar inte noter för en poänglista.
Inloggning krävs
Visuell stil
Teckensnitt
Inloggning krävs
Alternativ
Växla mall
Visa alla
Flera format visas när du spelar aktiviteten.
Öppna resultat
Kopiera länk
QR-kod
Ta bort
Återställ sparas automatiskt:
?