The Economic Problem
- Created by: OllieMoreton
- Created on: 18-03-14 19:07
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- The Economic Problem
- The Economic Resources
- Capital
- Interest
- Labour
- Wages
- Enterprise
- Profit
- Land
- Rent
- Capital
- Prices and profits have three key functions
- Rationing
- Incentive
- Signalling
- Production Possibility Frontier
- Shifts in the PPF
- + Finding new resources
- + Improving technology
- - Fall in living standards
- Opportunity Cost
- Increase of A Decrease in B
- Shifts in the PPF
- The Economic Resources
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