AS Economics unit 1 key terms

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  • Created by: Darren
  • Created on: 18-01-13 11:31
what is a merit good?
a good that creates positive externalities
1 of 4
what is the price elasticity of demand for an inferior good?
negative
2 of 4
what is a demerit good?
alcohol
3 of 4
what is the reward for enterprise?
profit
4 of 4

Other cards in this set

Card 2

Front

what is the price elasticity of demand for an inferior good?

Back

negative

Card 3

Front

what is a demerit good?

Back

Preview of the front of card 3

Card 4

Front

what is the reward for enterprise?

Back

Preview of the front of card 4

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